During the Tiffany & Co. Mens Launch in Los Angeles, the Australian singer, 22, told reporters that his relationship with the 26-year-old superstar was "developing naturally" after the two were spotted kissing in Beverly Hills last week.
"I'm very happy. We are very, very happy," he gushed adding, "And that's the most important part of a relationship, you know?"
The entertainer went on to explain that the relationship is different from his former ones as the two have known each other as friends for years.
"Any girlfriends I've had in the past has always been immediate romance and so it's a different experience having been friends with somebody before and it developing naturally into something more," he explained.
"The reason why it hasn't been a really crazy sudden thing is just because we've been friends for so long," he added.
Cody raved about Miley and detailed why they connect on many levels as he said, "She's creative, she's very passionate about what she does, and I'm very similar in that sense. That's why we get along so well."
"I'm very busy now working on my album and I'm out most of the day doing that, and so it's nice to be able to come home to somebody who gets it and understands you. I try to do the same for her and give her stuff. We always have as friends and now it's just a little different," he confessed.
Their shared love of music was even more apparent as Cody admitted he wrote a song for Miley amid her hospitalization for tonsillitis earlier this week, and she pushed him to release the track to the public.
"She's like, 'If you don't put this s--t out, I'm putting it out on your behalf for you. I'm getting your Spotify login and doing this s--t myself,' and I was just like, 'All right, all right, I'll do it,'" he told reporters. 'So I recorded it this week. I'm gonna put it up next week. It's something I wrote for her while she was sick this week."
The pair have regularly posting on each other's social media accounts since the PDA session at a Beverly Hills restaurant last week. The news followed her recent split from Kaitlynn Carter and her divorce from Liam Hemsowrth.
Meanwhile, Liam was spotted holding hands with Australian actress Maddison Brown in New York on Friday.