I keep thinking about this song. The more I hear it, the more I think it's about two ex-lovers (obvious) who haven't seen each other in a long time. Both have residual feelings, though one has moved on more and is married. They have either run into each other or met to somewhere and caught up. Lover A (singer Davey) knows not to tell Lover B how he feels, but there still seems to be some chemistry.
While lover A is still longing for the other, Lover B may start to feel the "what if" moments. As in, "what if we were still together? Where would we be?" All those sorts of feelings. Lover B seemingly doesn't have a place to stay and Lover A offers that they can stay with them. However it happens, something happens. They end up having sex. The longing sound in the song could go either way for lover A and that they are conflicted about how this makes them feel, but it was in the moment and it was more of a last moment together. A goodbye. Something they can both take with them. Morality on a cheating spouse aside and the terrible repercussions something like that could have on a marriage, there's something oddly beautiful about this song. It's like being able to get that forbidden moment, just to know, one last time. One last goodbye and no one can take that away from them.