As I was looking at old comments, one reader had asked about this song. I tried a few places on Google and finally found it. The web site has lyrics for this amazing song in 4 languages, English, Kannada, Hindi and Telugu.
The song is composed by Sree Varadesha Vittala Dasaru. You can listen to the audio here on Kannada audio.com.
The lyrics in Kannada can be found here:
And the lyrics in English can be found here:
You can also select Hindi and Telugu in the top left drop down and get the same. Hope you can sing this amazing song during the upcoming Rama Navami Festival.
A million thanks to the webmaster of http://www.dashapramathi.org for posting the lyrics.
And here is the video I finally found on youtube sung by Sri Narashimha Nayak.