Lyric discussion by toadtws 

He and a girl have known each other for nine years, probably dated at some point, but she ends up marrying someone else. He finds her at her housewarming party when husband and wife move in together and their history comes up. They try to put it behind them, and the song ends on a very positive note, with Dean confident that they can still be friends.

This is a much healthier way to deal with this situation than is featured "Company Calls (Epilogue)."

The song title is a reference to the 1988 movie "Miracle Mile." In the movie two people, Harry and Julie, meet in Los Angeles and are immediately attracted to one another, but end up unable to connect. Initially, serendipity keeps them apart, but they don't get a second chance because LA is destroyed by nuclear missles. Also, LA is home to the Miracle Mile shopping and cultural district along Wilshire Blvd, from which the movie took its name.

So he's saying that he feels like they've been kept apart by a catastrophe, namely her relationship with her husband. But he's resigned himself to that and doesn't want to lose her as a friend.

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