As a key member of Throwing Muses, Belly, and the Breeders, Tanya Donelly was one of the stars of the 1990s. However, her own band, Belly, only managed two albums before she walked away for a lower-key solo career and much quieter life as a post-pregnancy doula (childbirth assistant). Twenty one years on, they’ve re-formed for pleasure rather than big bucks, and are playing to packed houses.

It’s rare to see a band and audience enjoying themselves so much together. Monroe-haired Donelly and leather-trousered, barnet-shaking bassist Gail Greenwood augment ageless rock cool with funny quips and asides. “Sshh. We’re trying to have a rock concert,” laughs Greenwood, as the gaps between songs are steadily filled with declarations of love and marriage proposals from the audience.

“Settle in. We’re going to play almost everything,” beams Donnelly, and as a setlist including gleeful renditions of Feed the Tree, Gepetto and the rest nudges past 20 songs, it beggars belief that this band has spent years in cold storage. Belly songs are darkly beguiling fairytales that erupt into big, uplifting choruses, but otherwise run the gamut from vulnerability to intensity and exuberant pop. When Donnelly uncharacteristically misses an opening note, cheers erupt as she successfully tries again.

The sublime Stay (“It’s not time for me to go”) becomes an arms-waving manifesto, and two new songs further suggest they may stick around this time. Greenwood praises “only the second audience to see Belly in 21 years”, but in this inspired form, there will surely be many more to follow.

• At Ritz, Manchester, Sunday 17 July. Box office: 0161-714 4140. Then touring until 23 July (Dublin).