21-year-old Aaliyah had already released a hit sophomore album, One in a Million, by 2000, and was just on the verge of releasing her third and final album, Aaliyah, the following year. Beyoncé, still a member of Destiny's Child, co-hosted the VMAs red carpet pre-show for MTV.
"Miss Aaliyah, how you doing, girl?" Beyonce asked the "One in a Million" singer in the throwback video.
"It's so good to see you again," Aaliyah replied.
"You too! What are you looking forward to seeing?" Bey said, before the two gushed about D'Angelo.
"He's fine. He's hot!" Aaliyah raved to Beyonce's giggles.
In fact, multiple sources tell ET that Beyoncé, up for a record 11 awards at this year's VMAs, will also be performing this Sunday.
The singer last performed at the VMAs in 2014, but it's her show stopping 2003 performance that MTV has been teasing.
Whether Blue Ivy -- who watched her mom's 2014 performance from the arms of Jay Z -- will be accompanying Beyonce to the show is still up in the air, but we can only imagine the kind of fashion they'll bring to the red carpet.