Wiktionary
n. An erotic or sexual telephone conversation between two or more people.
Wikipedia
Phone sex is a conversation between two or more people on the phone where one or more of the individuals is describing the act of sex. Phone sex takes imagination on both parties' part; virtual sex is difficult if the operator doesn't put the images in the head of the caller and the caller must be open to the pleasure as well. The sexually explicit conversation takes place between two or more persons via telephone, especially when at least one of the participants masturbates or engages in sexual fantasy. Phone sex conversation may take many forms, including: guided fantasy, sexual sounds, narrated and enacted suggestions; sexual anecdotes and confessions; candid expression of sexual fantasies, feelings, or love, and/or discussion of very personal and sensitive sexual topics.
Once means of transmitting payment were developed, phone sex turned into primarily a commercial activity, with customers (overwhelmingly male) and sellers (overwhelmingly female).
Usage examples of "phone sex".
The irreverent thought that she'd give really good phone sex crossed my mind.
He could have made a fortune on one of those 900-number phone sex lines.
But I won't tolerate you having phone sex while I'm standing in the same room.