Yes, this is a Cypriot traditional song. It can be found as either "Loulla mou, Maroulla mou" or "Roulla mou, Maroulla mou" (as sung by Anna Vissi, for instance).
Maroulla is a female name, and Roulla is just shortened from Maroulla - some sort of diminutive form of the name.
Full song lyrics are longer.
Anyway...
Last night was so icy
Roulla dear, Maroulla dear
Last night was so icy
Roulla dear, Maroulla dear
And all the birds froze
Tralalalala...
But in her warm arms
Roulla dear, Maroulla dear
But in her warm arms
Roulla dear, Maroulla dear
I didn't feel any cold
Tralalala...
_______
That's it.
P.S. It's supposed to be "αγκάλια σου", ie "your arms", not "αγκάλια της".
Some corrections: "Εψές η νύχτα..."; "κρυότην εν ένωσα".