Bad luck, Tim.

Frontwoman Emmy Mack had this to say about the track; "I wanted to write a song that felt like Nine Inch Nails meets ‘WAP’. An empowering metal anthem that would help me smash some of the stigma and shame around sex that I felt for a long time after surviving SA. Consensual sex is one of the most awesome things in the world! And we’re beyond grateful to the legends in Alpha Wolf for backing this vision, for helping us inject more sexual liberation into the world of heavy music, and above all, for conspiring with us to create a horny metal song about oral sex that people can fuck to."

its amazing how far music can come.. 24 years after it released and its one of the most heartfelt songs ive heard

Like a lot of the other comments are saying, I think this mainly about voyeurism. If the song was about his girlfriend, then why would he use the word spy. If you are a spy it means you shouldn't be caught, that is kind of the whole point, and if you are a voyeur, the whole point of the pleasure you get from it, is the fact that the other people don't know you are watching them. See a bit of a connection there?

This song is def a twin to "Unfair" (a song she has been quoted as saying is about falling in love with someone who is already in a relationship) so it is presumably about the same person. Given the references to buying an apartment and not being able to see her love interest "after tonight," it's most likely that she's moving away and she'll "wait a day to break the bad news" (i.e. notifying him that she's leaving once she's already gone). And, of course, the fact that she sees in him a fellow "idealist" and "dreamer" (terms commonly given to people with the INFP personality on the Myers–Briggs Type Indicator (MBTI)) portends that she'll always be left wondering if they would've been perfect together.