The couple performed an acoustic of McFly's current single, 'Love Is On The Radio', which they have called the 'Mr & Mrs F' version.
In the video posted to YouTube, Tom plays a pink ukulele, while Giovanna, whose growing baby bump can be seen, plays the xylophone.
Explaining the video, Tom said: "My beautiful wife (plus bump) and I have done a version of Love Is On The Radio" before adding that their version is now available to buy as a digital download.
The couple have previously covered Bob Dylan's 'It Ain't Me Babe' and Andy Williams' 'Moon River' on their YouTube channel, but have never before made it available to purchase. Watch their duet in the video below:
An excited Giovanna, who is the sister of TOWIE star Mario Falcone, tweeted: "I've never appeared on iTunes before, so this is very exciting! Well, for me it is!"
Tom and Giovanna announced their happy baby news on 29 October in a very sweet Halloween-themed video.
Tom, who is now part of the supergroup McBusted, recently revealed that Giovanna is due to give birth in March, a few weeks before the McBusted tour kicks off in April.
Check out other stars expecting a baby in the gallery below:
Copyright: Vimeo / Weiss Eubanks