The two singers are also joined by Vince Gill, bassist Edgar Meyer and percussionist Eric Darken when performing the song at the annual event that is held in Nashville.
Taylor Swift graced the stage at the 2013 Country Music Association Awards on Wednesday, November 6. The 23-year-old star delivered a special live rendition of "Red", a track which is taken from her chart-topping album of the same title, "Red".
Swift formed a mini orchestra for her performance at the annual event, which was broadcast live on ABC from the Bridgestone Arena in Nashville. Playing her guitar, she was joined by Alison Krauss and Vince Gill to sing the sweet tune. Bassist Edgar Meyer and percussionist Eric Darken were also there for the stunning performance.
In addition to appearing as a performer, Swift was up for many awards in various categories. The "I Knew You Were Trouble" singer also received the rare Pinnacle Award for her worldwide success and her contribution to country music. Swift became the second person to receive the honor, following the footstep of Garth Brooks.
Before accepting the award, Swift was presented with a gift from "Nashville" stars Lennon and Maisy Stella. The girls serenaded the singer with "You Belong With Me", to which Swift sang along.
Swift then took the stage and gave a speech. "I remember when I was 16 and I got the call from Scott Borchetta from my label. He said, 'Can you be on the road in two days and open for Rascal Flatts?' I said, 'It's a miracle' and he said, 'No, Eric Church got fired for playing too long,' " she joked.
"George Strait taught me to play the songs your fans want to hear. Brad Paisley, who I toured with for nine months... I sat on a speaker by the side of the stage and watched him every single night and he was funny, and I'll never be that funny."
"To whoever made this choice, you are not rewarding my hard work and exhaustion, but my family and my label and anyone who works with me and the fans who fill stadiums. I love you," she continued. "You made me feel so special right now, thank you," she finished, as she burst into tears.
This year's CMA Awards also featured performances from other country stars like Keith Urban, Miranda Lambert and Lady Antebellum. The former two singers treated fans with their duet "We Were Us", while Hillary Scott and her bandmates delivered "Golden".