Yes. But it's hard to be sure exactly what it means. It could be, "I really really value our friendship"... or "I've got kind of a crush on you but I don't want to mess up our friendship by saying it out loud"... or "I won't be happy unless we take this to the next level"... or something else even.
Maybe talking with this friend generally about the songs, or about the topic of friends and relationships, will give you a hint what the message is.