The singer revealed his plan to Gay Byrne when Boyzone filmed a For One Night Only special with the veteran broadcaster last Wednesday.
"I think Ronan wanted to put that clip into a tin box and drop it into Dublin Bay so it would never be seen again.
"Anyway he told us how he had tried desperately to buy the copyright of the clip from RTE, but they wouldn't sell it," Gaybo said.
Seen countless times on numerous TV shows, the Boyzone debut got another airing in the RTE Boyzone special, which featured all the surviving members in conversation with Gay.
However former manager Louis Walsh, the man who created Boyzone, was absent from their One Night Only, but did take part in a special in RTE Donnybrook the previous night celebrating the career of Phil Coulter.
"Louis was able to drop in for Phil's show, but the following night had to go back to the UK for X Factor filming.
"The boys paid tribute to Louis during the show as the guy who helped them to stardom, put up the money to start the band and spun the stories," said the 78-year-old presenter.
Filmed in front of an audience of diehard fans, another absent friend remembered by Keating, Shane Lynch, Mikey Graham and Keith Duffy in the RTE special was Stephen Gately, who died in 2009.
"All the guys describe how Stephen's death changed everything forever."
RTE plans to air Gay Byrne's One Night Only special in late August.