Cloud will probably regret letting his clothes drift to the bottom of the pond. Sephiroth won't be fishing them out for him. But that's a frustration later Cloud will have to deal with.

For now Cloud will just have to deal with Sephiroth continuing the kiss, his hands also wandering the now bare skin. He's not too lost in the moment that he'll drown Cloud, but he might push the limits just a little before he brings the both of them to the surface. It'd be too disappointing if Cloud were to die during it all.

After a moment he breaks from the kiss to move to Cloud's neck, trailing down the side and eventually to his chest as though he has to taste every inch. Which might possibly be true right now.