UK husband, Canadian wife, both dual citizenship?

Hi, I am UK citizen, my wife is Canadian and moved to UK where she is due to get ILR next year. My understanding is that this will give her dual citizenship and pretty much free movement between UK and Canada. At some point in the future we are likely to return to Canada to live, perhaps spending some time in UK, sometime in Canada for reasons of family spread between the two. So, I am keen to get dual citizenship too. Am I right in thinking that I would have to go through the application process, get enough points etc and then live in Canada for some time - similar to what my wife has done but in reverse?

Has anyone done this and can help explain the process?

Thanks!