Billy Ray Cyrus and Firerose Duet on Diane Warren-Penned Power Ballad ‘Plans’: Watch (Exclusive)

Billy Ray Cyrus and Firerose can’t stop dreaming about spending forever together.

The “Achy Breaky Heart” singer, 61, and his fiancée, Australian singer Firerose, 34, teamed up for their new, romantic single “Plans.”

Penned by Grammy-winning songwriter Diane Warren, the sweeping power ballad celebrates the thrill of finding your soulmate. “Have you got plans for forever/Do you have ’til the end of time free?/Have you got plans for forever/Do you want to make them with me?” Cyrus and Firerose sweetly harmonize on the chorus.

“Billy Ray Cyrus and Firerose have made a beautiful record that I have a feeling we will be hearing at weddings for years to come,” Warren, 66, said in a press release.

PEOPLE is exclusively premiering the music video for the track, which features Firerose walking through a magical door in an enchanted forest to meet Billy Ray Cyrus in a meadow. Together, the duo wear in what appears to be wedding attire — Cyrus in an edgy spin on a tux and Firerose in a glimmering gown — and duet in front of a fireplace while rose petals cascade down.

“It’s fantastic when a song becomes life imitating art imitating life,” Cyrus told PEOPLE exclusively. “Firerose had a great vision for this video, she and the producers put together an incredible team to bring that vision to life.”

“Making this special music video was a wonderful collaboration. Working with the team of amazing visual artists from director

Nick Pres to fashion designer Laura Rudovic who exquisitely designed my silver beaded custom couture gown was truly inspiring,” Firerose exclusively told PEOPLE of the visual. “I love getting to bring my artistic visions to life with a team of creative geniuses.”

She continued, “‘Plans’ is such a positive song full of love and passion. Everyone on set brought their A game. I’m so excited for fans to see what we created!”

Firerose and Billy Ray sparked engagement rumors when she posted a photo wearing a diamond on her ring finger on Sept. 13, 2022. It was later revealed that Billy had proposed the month before. “Billy looked at me and said, ‘Do you, do you wanna marry me?’ And I was just like, ‘Of course I do. I love you,’ ” said Firerose, who later designed her own ring. “He said, ‘I love you. I wanna make this official. I wanna be with you forever.'”

Before Firerose, Cyrus was married to Tish for 28 years and the couple share five children: daughters Miley, Noah, and Brandi, and sons Trace and Braison.

Firerose and Cyrus previously teamed up for for a musical collaboration together in 2021 with “New Day” and last fall for “Time.”

The pair plan to premiere “Plans” at the Grand Ole Opry on Friday.