The song (and the album) was representative of Siouxsie and the Banshees' more elaborate and experimental musical direction at the time. The overtones of the song were accentuated by a string section, including violins and a cello. AllMusic later described "Slowdive" as "a violin-colored dance beat number" with "a catchy melodic hook".The Guardian's music critic Dave Simpson deemed it one of the band's very best recordings, noting that it "sounds like the lid being slowly released on a pressure cooker, as the band emerge from the black and flit from suspense to sensuality. They change course again musically, too, switching from brooding rock to psychedelic pop".
The title of the song gave the name to the band Slowdive in the early 1990s as their members later related it in interviews.
"Slowdive" was released on 1 October 1982 by record label Polydor. The song just missed becoming a top 40 hit, peaking at number 41 in the UK Singles Chart.
The song's release on 12" vinyl included an extended version (which would be released on the expanded, remastered edition of A Kiss in the Dreamhouse in 2009) and an instrumental version of the third track on Dreamhouse, "Obsession", titled "Obsession II".
"Slowdive" was later covered by LCD Soundsystem in January 2005 for an XFM radio session and was also released as the B-side of their "Disco Infiltrator" single. LCD Soundsystem closed all their 2005 concerts with performances of the song. 
^"Juliette lickes it". nme.com. 15 February 2005. Retrieved 30 November 2011. LCD Soundsystem tore through a set which opened with ’Beat Connection’ and included ’Daft Punk Is Playing At My House’ as well as a cover of ’Jump Into The Fire’ by Nilsson and ’Slowdive’ by Siouxsie and The Banshees.
^Doran, John. Soundsystem And Vision. July 2005. "After a jaw dropping set that ended on a cover of Siouxsie and the Banshees’ ‘Slowdive’, one thing is fairly certain: Leeds’ relatively small Cockpit venue..."