Tim McGraw and Faith Hill Are Releasing a Joint Album!

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True love does exist -- Tim McGraw and Faith Hill are releasing a joint album!

The country couple announced plans for an untitled album on Monday, set to be released later this year from Sony Music Entertainment.

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The pair's new single, "Speak to a Girl," is set to debut on Thursday, with the singers performing the song at the Academy of Country Music Awards next month.

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Though this is the first joint album for McGraw and Hill, the two have been frequent collaborators throughout their 20-year marriage.

The GRAMMY-winners most recently collaborated on "Keep Your Eyes on Me" from The Shack soundtrack, in addition to 2014's "Meanwhile Back At Mama's" and 1997's "It's Your Love. On April 7, they will be kicking off a joint world tour, Soul2Soul, in New Orleans (following their hit Soul2Soul tour in 2000).

ET caught up with the couple at the GRAMMYs last month, where McGraw gushed about getting to hear his wife "sing every night."

"Being together on stage and for me -- it's been 10 years since we actually did a proper tour together -- to be on stage with her and hear her sing every night, it's pretty special," he said.

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"We don't get to hear her sing very often, especially live, and so every night [I] really just look forward to hearing her and trying to keep up with her, which is the biggest problem for me!" he added.

See more in the video below.