“That match was just such a high level and she played so well,” Keys, 29, said.
“I felt like I was just fighting to stay in it and then obviously really kind of ran with the second and then the third was just a battle.
“To be able to be standing here and be in the finals is absolutely amazing and I’m so excited that I get to be here on Saturday.”
Keys, the US Open runner-up in 2017, confessed she couldn’t recall much detail about the final set where she saved a match point.
“In the third set, it was just so up and down. I feel like I blacked out at some point,” Keys smiled.
“Just to be able to stay in it and just keep fighting and then a 10-point tiebreaker for a dramatic finish.”
Earlier, Sabalenka put her close friendship with Badosa aside to stay on track for a 26-year first.
The Belarusian world No 1 romped home 6-4, 6-2 on Rod Laver Arena against the 11th seed.
Keys predicted a slugfest between two of the hardest ball-strikers in the women’s game in Saturday’s showpiece.
“Definitely some big hitting. I think that is going to happen,” Keys said.
“Not a lot of long points but she is obviously going for her third Aussie Open and I’m excited to get to play here.”
Keys and Sabalenka have met five times previously, with the powerful Belarusian winning four of them.
Most recently they faced off in Beijing in October in the last 16 with Sabalenka winning 6-4, 6-3.
‘I hope she’s still my friend’
Sabalenka is closing on a third consecutive Melbourne crown – something that hasn’t happened this century.
The last person to achieve the feat was Martina Hingis in 1999 and only four other women have completed the three-peat – Margaret Court, Evonne Goolagong Cawley, Steffi Graf and Monica Seles.
Court was in the stadium watching.
“Honestly, I don’t know. I’m so proud of myself. I’m proud of my team that we’re able to put ourselves in such a situation,” Sabalenka, also the reigning US Open champion, said.
“It’s a privilege. If I’m able to put my name into history, it will mean a lot. It will mean the world to me.”
Sabalenka last year described Spain’s Badosa as her “soulmate” and said she was “super happy” that they got to play each other on such a big stage.
“I hope she’s still my friend. I’m sure she’ll hate me for the next hour, day or two, but I’m okay with that, I can handle that,” she said after her semifinal rout.
Despite losing, Badosa’s run to the last four capped a remarkable comeback for the Spaniard after a brutal back injury had her considering quitting tennis a year ago.
Her Melbourne exploits will return her to the top 10 for the first time since October 2022. Keys will also return to the top 10.
Badosa said Sabalenka was in unstoppable form.
“Sometimes you’re like, I don’t know, I’m just walking around the court because I feel like she’s playing a PlayStation.”