The pair will perform Somethin' Bad, which will appear on Lambert’s upcoming album Platinum. The CD is set for release June 3.
"I'm a huge Carrie Underwood fan," Lambert said in a statement. "Somethin' Bad is a meshing of our styles and there aren't many female collaborations in our format, so I'm really excited to be debuting it on the Billboard Awards."
The show is to air live on ABC from the MGM Grand Garden Arena in Las Vegas May 18.