Lyric discussion by the curious cat 

Cover art for Stay Out Of Trouble lyrics by Kings of Convenience

wow..ya know...i hadn't thought of it as a goodbye song before, but now it makes perfect sense.

my earlier take on the song was that it's about a guy who suddenly realizes he wants something more than a friendship with this girl ('so baby, what we've got has lately not been enough'), on the eve of him or her leaving the place. but i was probably super-imposing my own life experiences onto the song.

the break-up theory fits much better! it's such a wistful song.