Dolly Parton and Katy Perry took the stage at the ACM Awards on Sunday night and stole the show with their captivating medley of the former's greatest hits.

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After being introduced by Kacey Musgraves, Perry honored Parton with the Tex Award for her TV movie, Dolly Parton's Coat of Many Colors, which aired on NBC last year.

During her introduction, Perry spoke about a recent Twitter post where she said how she is nothing more than a tiny sequin on Dolly Parton's outfit and pointed out some of the things they both have in common such as their family members being preachers, their similar upbringing and how they grew up playing guitar in church.

Perry highlighted Parton's many achievements, including the fact that she has penned more than 3,000 songs to her name and more than 100 million in global album sales, before she went on about her favourite Dolly Parton number.

"A whole new generation was introduced to that song [Coat of Many Colors] with this past year's TV movie of the same name, including me. One of the lines I really related to was: 'If I can hold God's attention, I can hold the world's.' And boy, did this film hold the world's attention," she continued.

"It's the highest-rated network movie in over six years, it was seen by over 16 million people and is being honored tonight," she said, welcoming the country singing vet on to the stage as the crowd rose from their seats to give her a standing avation.

After accepting her award, the duo, donning cowboy boots and sparkly outfits, amazed the audience with a dazzling medley of the 70-year-old's hit songs including Jolene, 9 to 5, and Coat of Many Colors.

Last month, the pair announced that they were going to perform together for the very first time at this year's Academy of Country Music Awards following the country singer's announcement of her new album Pure & Simple with Dolly Parton's Biggest Hit and her first major North American tour in 25 years.

Watch a snippet of their electrifying performance below:

Katy Perry and Dolly Parton performed 'Jolene' together tonight at the #ACMs

TagsACM Awards, dolly parton, katy perry, Coat of Many Colors, Jolene, 9 to 5, Katy Perry Dolly Parton performance