'Memories' recently peaked at No.4 on the Billboard Hot 100, becoming the band's 10th top-five track in the US.
The LA-based pop superstars teased the new song's imminent arrival on social media earlier this week.
The new song is from Sheeran’s forthcoming all album, 'No. 6 Collaborations Project', which also features Justin Bieber, Eminem, 50 Cent and others.
The 2019 Billboard Music Awards returned to the MGM Garden Arena in Las Vegas on Wednesday, 1 May, with Drake breaking the record for the most awards.
The star-studded 2019 event will air on NBC from the MGM Grand Garden Arena in Las Vegas on 1 May.
The video immediately attracted attention for its cameo-filled nature, featuring the likes of Camila Cabello, Ellen DeGeneres and Jennifer Lopez.
The ceremony which aired on Fox was hosted by rapper T-Pain and featured performances by Halsey, Garth Brooks and Kacey Musgraves, among others.
Released on 8 February through Republic Records, the album is Grande’s fourth US chart-topper.
The cruise is scheduled to depart from Miami on 28 June, before making a stop in the Bahamas and returning on 1 July.
Featuring Cardi B, the single version of the track topped the US charts and spent 33 weeks in the Top 10.
Lil Wayne, Tory Lanez, Trippie Redd. Migos and more are also on the bill in LA.
Ludacris, Cardi B and Bruno Mars are also on the star-studded festival bill.
The 'Kamikaze' album – which was surprise-released back in August - has recently gone platinum.
Broadcast live from NYC's Radio City Music Hall, the event also featured live performances from Ariana Grande and Aerosmith with Post Malone.
The event will also feature a performance from Jennifer Lopez, who is set to receive the Michael Jackson Video Vanguard Award.