The pop superstar penned the track Donatella as an ode to her designer pal and gifted it to the 58 year old at a birthday party she threw for the veteran in May (13).
The tune opens with the words, "I'm so fab/Check it out", and goes on to include lines such as, "I'm blonde/ I'm skinny/ I'm rich/ And I'm a little bit of a b**ch" - and Versace can't get enough of it.
She tells Elle magazine, "The best present she could give me. I loved it and couldn't stop dancing. I made her play it again and again. The song is insane, over the top, loud and full of energy - everything that I like."