Demi Lovato and Nick Jonas Celebrate 'Cool For the Summer' Reaching Number One on iTunes [PHOTOS]

Nick Jonas and Demi Lovato certainly know how to celebrate in style.

Demi Lovato's latest single 'Cool for the Summer' has just peaked at the number one spot on iTunes. The singer has previously announced the release of the single on Twitter, where she posted the sexy cover art for 'Cool for the Summer.'

The fresh new single was released on July 1st.

Nick Jonas has just posted a picture of himself and Lovato on Instagram, where the two singers are posing with gold cigars. "Celebrating @ddlovato number 1 with @dmcigars 24k gold cigars. #coolforthesummer," the 'Jealous' singer wrote in the caption.

A photo posted by @nickjonas on Jul 3, 2015 at 11:52am PDT

Demi Lovato also posted the picture on her Twitter account with the caption, "Nothing like one of your business partners/best friends showing up to support you!!! #COOLFORTHESUMMER."

Nick Jonas and Demi Lovato met while working on the Disney film 'Camp Rock' and have kept a close friendship ever since. The young singers have recently decided to start their own record label with the help of Lovato's manager Phil McIntyre. 'Cool for the Summer' is Safehouse Records' first certified hit.

Demi Lovato's new single was recently in the news after claims that 'Cool for the Summer' was a rip-off of Katy Perry's 'I Kissed a Girl.' When Entertainment Tonight tweeted about the comparison, Lovato immediately responded.

"Sounds nothing like it and with all the advances we've made in the LGBT community I think more than one female artist can kiss a girl and like it," the singer wrote.

'Cool for the Summer' is the first single off of Lovato's upcoming album, which the singer claims will be different from her previous album.

"I'm no longer serious," Lovato said. "I'm done with like the sob stories and the tales. New chapter, new life, new album, new single. This is a completely new Demi."

Nick Jonas recently spoke up about his breakup with longtime girlfriend Olivia Culpo, where he confirmed that his hectic schedule was a factor.

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