Keith Urban was joined by wife Nicole Kidman and a who's who list of friends and colleagues Monday in Nashville, to honor the men who wrote his latest No. 1 hit, 'You Look Good In My Shirt.' Songwriters Tom Shapiro, Mark Nesler and Tony Martin received numerous accolades and mementos, including new guitars.

Urban thanked his producer, Dann Huff, for bringing him 'You Look Good in My Shirt,' noting that it had a strange journey to the top of the charts. He originally cut the song for his 2002 'Golden Road' album. It had been planned as the fifth single, but while Urban was recording material for his next album, 'Be Here,' he found the song 'Days Go By' and the label decided to release it instead.

After persistence from Urban, who continued to promote the great reaction he got from the crowd when he performed 'Shirt' live, Capitol Records agreed to put the song on Urban's 'Greatest Hits' album in 2008. The singer decided to go in and record a new version of the song, which became the single that shot to the top of the charts. (Watch the video below.)

"I've always liked the song, I think it's beautiful," Urban told the several hundred people who gathered for the celebration. "It just proves that a good song is a good song and people like it whenever they have the opportunity to hear it."

Shapiro admitted that when he heard that Urban was re-recording the song, he was worried because he didn't see how he could improve on the first version of it. Nesler agreed, adding, "What an incredible job Keith did; he took it up to a whole new level." Martin broke the seriousness of the moment by saying, "Everyone says songs are like our children. I'm just glad that some of them go out and earn a living!"

Keith concluded his thank you's by admitting that it's an amazing feeling to have been a solo artist for eight years. He thanked wife Nicole for being at the party and said to her with a wink, "You do look good in my shirt ... and out of it! But that's a different story."