The Collaborative International Dictionary of English v.0.48:

Godliness \God"li*ness\, n. [From Godly.]
   Careful observance of, or conformity to, the laws of God; the
   state or quality of being godly; piety.
   [1913 Webster]

         Godliness is profitable unto all things. --1 Tim. iv.
                                                  8.
   [1913 Webster]

WordNet (r) 3.0 (2006):

godliness
    n 1: piety by virtue of being a godly person [ant:
         godlessness, ungodliness]