5/4: All Happy Families Question

I was watching this episode tonight with my family. There's a part when Tony and the boys are all sitting at the Crazy Horse. One of them asks the rest to leave the room so they can talk to Tony in private. As some of the guys are leaving the room, a song is playing in the background, and I remember seeing Silvio acknowledge it. Is there something of any significance in that acknowledgment?

If I recall, this question has been asked before. From what I understand, the song happens to be performed by Stevie Van Zandts band, and, consequently, it's sort of an inside-joke (not really, but the word I'm looking for escapes me at this point) type of thing.

That's what I thought.

Thanks JJ!