It is. It's 11°F outside (3°F with the windchill). Here are four versions of Frank Loesser's song, via YouTube:
June Carter Cash and Homer and JethroThe recording of the song can be found on Ray Charles and Betty Carter (1961).
Rock Hudson and Mae West
Tom Jones and Cerys Matthews
Fred MacMurray, Ann Miller, and Dinah Shore
"Baby, It's Cold Outside" (Wikipedia)