The hotel heiress and German singer gave fans an update on their song together backstage at the 2019 YouTube Streamy Awards at the Beverly Hilton Hotel in Los Angeles on Friday.
"I'm very excited to go into the studio together," said Hilton, who interviewed Petras for ET after introducing her performance during the awards ceremony.
"I know!" Petras chimed in. "I feel like I have a song, finally, and it’s been way too long and we gotta freakin' do it soon…And I'm really excited, boots the house down."
"It's gonna be iconic AF," added Hilton, who starred in the singer's "I Don't Wait It At All" music video in 2017.
"Definitely the most iconic thing ever and I finally feel like I have the idea," Petras explained. "I promised you when we first met that we gotta do a song together, but it's got to be good. It's gotta be great!"
"Anything we would do is gonna be amazing and doing your music video, that is one of my favorite things to send people. Our scenes together are, like, [the best]…I love it," Hilton added. "As soon as I heard the song, I was like this girl is a f*cking star. And to see you come so far, that was like your first single, and then all of a sudden song after song. Girl, you don't stop."
Our bb @kimpetras is making history as the FIRST-EVER openly trans performer at the #Streamys and our guest correspondent @ParisHilton is grilling the inspirational icon.
After gushing over each other and praising one another's projects, Hilton -- known for her infamous "That's hot" catchphrase -- couldn't help but introduce in her "new word" to describe Petras.
"The new word, it's like the new 'That's hot,' is 'Sliving,'" she shared. "I did it again. I just trademarked it. Sliving. I own it…it's basically, Sliving equals 'Sliving your best life' which is killing it and slaying in one word. You're a slive. We're slivers that slive around the world."
Meanwhile ET's Denny Directo also got the inside scoop on Hilton's new music coming out.
"I have two songs coming out with Nervo. We're shooting a music video in the next couple weeks," she shared. "Benny Benassi and I are doing a song together and I'm producing music, touring all around the world. It's been a really exciting year and I can't wait for 2020."