The band opened up about their chart-topping single on PeopleTV's Red Carpet Live: 55th Academy of Country Music Awards pre-show

When Lady A kicked off their album, Ocean, with the emotional single "What If I Never Get Over You," longtime fans were thrilled to get another sweeping heartbreak ballad from the band.

The song became the group's first No. 1 single since their 2014 hit "Bartender" and is nominated for single record of the year at the Academy of Country Music Awards on Wednesday night.

"It was our tenth No. 1, and this song represents a lot of just the essence of who we are ... [and] the songs we love to record and to perform," Hillary Scott, 34, told Jeremy Parsons on PeopleTV's Red Carpet Live: 55th Academy of Country Music Awards pre-show.

Lady A — comprising Scott, Dave Haywood and Charles Kelley — is also nominated for group of the year, and it's a nod the musicians still cherish after all these years.

Check out PEOPLE's full ACM Awards coverage to get the latest news on one of country music's biggest nights.

Hillary Scott
Dave Haywood
Charles Kelley
Left: Hillary Scott of Lady A | Credit: Jason Davis/Getty
Center: Dave Haywood of Lady A | Credit: Jason Davis/Getty
Right: Charles Kelley of Lady A | Credit: Jason Davis/Getty

"It's so competitive. To have been in country music for well over 10 years now and to still be included, it really means a lot," says Scott. "Even though everything looks quite a bit different this year, we're just so grateful to be invited to the party and [are] looking forward to just the healing power of music tonight."

Last November, Kelley opened up to PEOPLE about finding their stride again after going through a "mid-life crisis" as a band.

"It's not gonna be for everybody. I wouldn't pop this thing in if you're wanting to go out and have a bachelorette party," Kelley, 39, said before the album's release.

Still, it appears fans fully embraced the record, which debuted at No. 2 on Billboard's Top Country Albums.

After being postponed in March due to the coronavirus pandemic, the ACMs (originally scheduled to take place April 5 in Las Vegas) will now air from three iconic locations in Nashville on Wednesday night with Keith Urban serving as host for the first time.

"[I'm excited] that the show's going on!" Urban told PEOPLE (the TV Show!). "It was a challenge to figure out how we were going to do this with no audience and not in Las Vegas and not in April. But we'll be in Nashville, and I'll be live at the Grand Ole Opry. We'll also have artists at the Bluebird Cafe and Ryman Auditorium. It's going to be a fun night."

This year's ACM Awards will air from Nashville on Sept. 16 from 8-11 p.m. on CBS. Join our correspondent Jeremy Parsons from 7-8 p.m. for PeopleTV Red Carpet Live: 55th Academy of Country Music Awards, featuring interviews with nominees and performers backstage from the famous Grand Ole Opry.