The pair sang an acoustic rendition of 'Lego House', which was the third single to be lifted from Sheeran's debut album +.
The video sees Sheeran and Swift sat on the floor with friends performing the track.
Sheeran was recently reported to be in the studio with Swift writing tracks for her forthcoming album.
The British singer-songwriter flew out to the US on Saturday (June 9) following his set at this year's Capital Summertime Ball to promote the release of his album + in America.
Sheeran's + was certified quadruple platinum in the UK last month after selling 1.2 million copies since its release in September.
Watch Ed Sheeran and Taylor Swift perform 'Lego House' below: