The song was written by Kiss guitarist Ace Frehley and Sean Delaney. Frehley sings lead vocals, and it is the only studio track of the five recorded for Alive II that Frehley performs on, as Bob Kulick was brought in to perform on some of the other tracks. Frehley noted in the booklet for the Kiss Box Set, released in 2001, that this was the first vocal performance that he was satisfied with.
Like many of Kiss's works, the song is a double entendre, using space travel (appropriate to Frehley's onstage "Spaceman" persona) as an innuendo for sexual intercourse.
Hide sampled the intro for his 1998 single "Rocket Dive", the title also being an homage to the song. Ace Frehley's 2008 tour, The Rocket Ride Tour (in support of his album, Anomaly) is named after this song.