Ed Sheeran and Elton John have teamed up to make sure fans ring in the holidays with a little extra cheer with their new single, "Merry Christmas."

The song, which they co-wrote and released on Friday, sees the two powerhouse British singers explaining why it's important to enjoy the season with those you love.

Sheeran, 30, begins the festive song by encouraging listeners to appreciate the season's wonders by singing, "So kiss me under the mistletoe / Pour out the wine, let's toast and pray for December snow / I know there's been pain this year, but it's time to let it go / Next year, you never know."

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    John, 74, then sings, "We've both known love, but this love we got is the bеst of all / I wish you could see it through my eyes, then you would know."

    If that wasn't enough to help bring some joy back to the holidays after another stressful year, the duo also released the official and ultra-campy music video for "Merry Christmas." Sheeran and John are decked out in several of their best holiday outfits, from sequined tuxedos to very short Santa-like robes, as they rotate through various Christmas-themed scenes.

    "Merry Christmas" is available to stream and purchase now across all platforms. Proceeds from the single will benefit the Elton John AIDS Foundation and the Ed Sheeran Suffolk Music Foundation.