Miley Cyrus Serenades Pete Davidson with 'It Should Have Been Me' Cover amid Kim Kardashian Romance

Miley Cyrus poked fun at paparazzi photos of Pete Davidson and Kim Kardashian West, singing, "It should have been me in that Lamborghini leaving that nice-ass restaurant"

Pete Davidson is the one that got away for Miley Cyrus — sort of.

The "Prisoner" singer, 29, stopped by The Tonight Show Starring Jimmy Fallon on Thursday alongside the Saturday Night Live comedian, and poked fun at his romance with Kim Kardashian West in a cover of the Yvonne Fair song "It Should Have Been Me."

Cyrus took the stage to sing the song, which begins with a woman watching her love marry someone else, and dedicated it to Davidson, 28, with whom she's hosting an NBC New Year's Eve special.

"Pete Davidson, this song is for you," she began. "When I saw those photos, this is what I played."

As she sang, Cyrus improvised lyrics of her own, shouting out the King of Staten Island star multiple times.

"You know, Pete," she interjected in the middle of the song. "How could you do this to me on the week of promoting our special?"

Toward the middle of the song, Cyrus strutted over to Davidson as he sat on Fallon's couch, and kicked her legs up and put them on his lap as she sang directly to him, at one point putting his hat on her own head.

"It should have been me in that Lamborghini leaving that nice-ass restaurant," she said, a sly nod to paparazzi photos of Davidson leaving the upscale Giorgi Baldi restaurant in L.A. with Kardashian last month. "I'm going to watch a movie in freakin' Staten Island."

Davidson laughed and clapped, dancing along as Cyrus continued to jokingly name-drop him in the song.

A source told PEOPLE last month that the comedian's romance with Kardashian, 41, is showing no signs of slowing down, and that Davidson's sense of humor is just what she needed after her split from Kanye West.

"He's exactly what Kim needed after her divorce — someone to make her laugh and just have a fun time with," the source said. "The end of her marriage was a very dark time for her and Pete has been the best antidote."

Miley Cyrus, Pete Davidson. getty (2)

The insider added that Davidson has been regularly flying back and forth from Los Angeles to New York in order to spend more time with the SKIMS mogul.

"He's so into her and is always 'my girl' this and 'my girl' that," the source said.

Meanwhile, Cyrus and Davidson offered new insight into their friendship on The Tonight Show, and revealed that they even got matching tattoos after they both appeared in a 2017 SNL sketch with Larry David that featured them dressed as babies.

"At the end, our excuse for it all, you know, Larry David said, 'What is going on?' And we said, 'We babies.' And for some reason, we looked at each other and were like, 'That's a great tattoo,'" Cyrus recalled.

They eventually brought Davidson's "tattoo guy" to 30 Rockefeller Center, and they were both inked. Cyrus still has hers on her ankle, though Davidson had his removed, along with many of his other tattoos.

The pair announced this week that they're co-hosting Miley's New Year's Eve Party Hosted by Miley Cyrus and Pete Davidson, which will air live from Miami on NBC on Dec. 31.