Can you please translate this poem Bot wold ye lady louely then leue me grante Nay for sothe beau sir sayd that swete?

The poem you provided is written in Middle English, a language spoken in England from roughly the 12th to the 15th centuries. Here is a translation into modern English, along with an explanation of the archaic words:

Modern English:

"But would you, lady lovely, then leave me? Grant it!

Nay, for sooth, beau sir, said that sweet."

Explanation of Archaic Words:

* Bot: This is a contraction of "but."

* wold ye: This means "would you" or "wouldest thou."

* lady louely: This means "lovely lady."

* leue me: This means "leave me."

* grante: This means "grant."

* Nay: This means "no."

* for sothe: This means "in truth" or "indeed."

* beau sir: This means "handsome sir."

* sayd that swete: This means "said that sweet one" or "said the sweet lady."

Interpretation:

The poem is a short dialogue between a man and a woman. The man asks the woman to leave him, but she refuses. She tells him, "No, indeed, handsome sir," implying that she loves him and will not leave him.

The poem is written in a very formal and poetic style, which was common in Middle English literature. It is also interesting to note the use of the word "beau," which shows that French words were already being incorporated into English at this time.