Waste time with lover — buoyant when excited … (5,5)

I believe the answer is:

fanny about

'waste time' is the definition.
(I've seen this before)

'with lover buoyant when excited' is the wordplay.
'with' says to put letters next to each other.
'lover' becomes 'fan' (synonyms).
'when excited' indicates anagramming the letters.
'buoyant' is an anagram of 'nyabout'.
'fan' next to 'nyabout' is 'FANNY ABOUT'.

(Another definition for fanny about that I've seen is " waste time".)

I've seen this clue in The Guardian.

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