After months of auditions and 59 substitute hosts, Kelly Ripa finally has a new permanent co-host. Michael Strahan came on board today as the replacement for retiring Regis Philbin on the newly named “Live with Kelly and Michael.”

Ripa seems thrilled with the addition of the former NFL star, saying, “Now it’s time for the new era of our show to begin.”

Strahan added, “You can’t get on live TV every morning and fool people. We’re two people who can laugh at themselves and laugh at each other.”

As though hosting a daily show won’t keep him busy enough, Strahan will continue with his weekend job for “Fox NFL Sunday.”

Strahan isn’t the only celeb to land a coveted new hosting job. Terrence Jenkins, aka Terrence J, has been chosen to replace Ryan Seacrest on E! News. The former host of BET’s “106 and Park” will join co-anchor Giuliana Rancic starting November 12. E! President of Network Strategy and E! News Cyndi McClellan told MTV, “Having Giuliana and Terrence for the weeknight program, and Jason and Catt for weekends, gives us a quartet of skilled, popular broadcast journalists and will give viewers a fun, fresh look at pop culture news.”

Congrats to both guys on their cool (and lucrative) new gigs!