Learn English – Meaning of ‘make it up’

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My English exercise book has a paragraph talking about friendship like this:

Meeting old school friends again can be a strange experience. Some
have changed so much that you can hardly recognise: they speak with a
different accent , are interested in different things and all you can
do is make small talk and hope they'll go soon. Others, though you
might have been out of touch with them for years, are just the same as
they always were – it's as if you last saw them yesterday

Before you
know it, you are exchanging words about your families and friends, and
setting out the pieces for another game of chess. A few change for the
better. There's one person that I get on with very well now, thought
we weren’t on speaking terms for our last two years at school. One
day, we met at a party and made it up and got engaged the same
evening.

Source: Language In Use

The meaning of "make it up", as I look up in the Longman dictionary, is "to become friendly with someone again after you have had an argument". However, that meaning does not seem to fit in the last sentence of the second paragraph. Am I wrong and could you suggest its correct meaning in this context?

Best Answer

It, in fact, precisely reflects its meaning! As you read, 'make it up' with someone means to become friendly with someone AGAIN

Check the previous sentence... they weren't talking earlier.

".....thought [sic] we weren’t on speaking terms for our last two years at school."

They weren't on speaking terms means they did not talk to each other for the said period.

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