Twelve hours later, as I was walking back to my bedroom from my shower, the phrase finally popped back into mind.
The reason I wanted to look it up was because the guitar licks and solo in it totally sounded like a rip off of Huey Lewis' If This Is It, which seemed pretty lame, so I wanted to look it up and see if anybody else had observed this. (In the napster days, I would have downloaded both songs so I could compare them.)
Anyway, Google identifies the song as Could It Be Love, written by Randy Sharp, and the only notable version of it he mentions is one sung by Jennifer Warnes, which, according to her site, peaked at #47 on Billboard's Hot 100, #57 on Billboard's Country Singles. So it's probably this version.
I don't find anybody out there making comparisons between the two songs, though. However, more importantly, Jennifer Warnes released that single in 1981. Huey Lewis' song was released in 1984. So the finger of suspicion points the other way.