Elton John and Ed Sheeran Channel Love Actually to Announce New Holiday Song 'Merry Christmas'

Get your holiday playlists ready — Ed Sheeran and Elton John's new Christmas song is coming soon!

The British musicians' highly anticipated holiday collaboration, titled "Merry Christmas," will be released on Friday, they announced Monday in a festive, Love Actually-themed video.

"Just under a year ago, I called @edsheeran to see if he wanted to make a Christmas single with me and now it's nearly here!" John, 74, wrote on Twitter. "'Merry Christmas' will be out Fri 3 Dec with all proceeds from this year's Christmas period going to the Ed Sheeran Suffolk Music Foundation & [the Elton John Aids Foundation]."

In an accompanying clip, Sheeran, 30, knocked on the "Rocket Man" singer's door with a set of note cards in hand, just as Andrew Lincoln's character does to profess his love for Keira Knightley's character in the 2003 holiday classic Love Actually.

"Hello. Last Christmas I received a call from my mate Elton John and he told me we should do a 'Christmas Song,'" the cards read. "And I replied 'Yeah. Maybe in 2022.' But I actually wrote the chorus that day and here we are. Our Christmas song 'Merry Christmas' is out this Friday. Go pre-order or pre-save it now. It has sleigh bells. A lot of them…."

Art for the track features an illustration of the "Shivers" singer placing a "rocket man" astronaut tree topper on his Christmas tree as a smiling John looks on, holding a giant candy cane.

Kevin Mazur/WireImage Elton John and Ed Sheeran

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The song's proceeds from the Christmas period in the United Kingdom will benefit both Sheeran's foundation, which he set up in 2019 to provide grants to young musicians in his hometown of Suffolk, and John's organization, which he founded in 1992 as a means of helping end the AIDS epidemic.

Sheeran first let news of the song slip in October during an interview with the Dutch radio station NPO Radio 2.

"Elton rung me on Christmas Day to say Merry Christmas," the singer said, adding that he talks to John "almost every single day." "He rung me on Christmas Day and he said, '"Step Into Christmas' is No. 6 in the charts, and I'm 74, and I'm still having f—ing chart hits, this is great! I want to do another Christmas song, will you do it with me?'"

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The star later told Jimmy Fallon on The Tonight Show that he had some reservations, but eventually gave in.

"I said to Elton, I was like, 'I don't really want to do a Christmas song unless we're going in. Unless it's like sleigh bells, ding-dong— yeah, it needs to be a proper Christmas song,'" he said. "I wrote a chorus, and then I went to go and stay with him, and we wrote three, and one of them was this one called 'Merry Christmas.'"

Both Sheeran and John are fresh off the release of new albums; Sheeran released = (pronounced Equals) on Oct. 29, while John's collaborative record The Lockdown Sessions came out on Oct. 22.