The song, which sees the Dublin-born brothers collaborating with Vanilla Ice, pushes Owl City's 'Fireflies' down to second place following its two-week reign at the chart summit.
Timbaland and Katy Perry's 'If We Ever Meet Again' climbs up 12 spots to number three, while the Glee cast's cover of 'Don't Stop Believin' and Lady GaGa's 'Bad Romance' take up the remaining two positions in the top five.
Meanwhile, the Glee cast also secure a second entry in the top ten, with their cover of Queen's 'Somebody To Love' debuting in tenth position.
The top ten singles in full (click where possible for our reviews):
1. (-) Jedward ft. Vanilla Ice: 'Under Pressure (Ice Ice Baby)'
2. (1) Owl City: 'Fireflies'
3. (15) Timbaland ft. Katy Perry: 'If We Ever Meet Again'
4. (6) Glee Cast: 'Don't Stop Believin'
5. (2) Lady GaGa: 'Bad Romance'
6. (5) OneRepublic: 'All The Right Moves'
7. (4) Iyaz: 'Replay'
8. (7) Sidney Samson ft. Wizard Sleeve: 'Riverside (Let's Go!)'
9. (8) The Temper Trap: 'Sweet Disposition'
10. (-) Glee Cast: 'Somebody To Love'