On Monday, the 78-year-old revealed plans to take a leave of absence from co-hosting Live with Regis and Kelly to undergo hip replacement surgery in New York.

Best wishes to Reg…..

Television legend has tapped CNN anchor Anderson Cooper — host of AC360 — to replace him on Live! within in the next two years, The National Enquirer reported Monday.

According to the tabloid report, Buena Vista Television is expected to offer Anderson a multimillion contract to join Kelly Ripa as host of the ABC morning gabfest when 78-year-old Regis retires in 2011.

“Reege loves Anderson,” an industry mole blabs. “And Anderson seems to love doing the show. Hosting AC360 is mostly serious stuff, and Live! allows Anderson to show his funny side,” the source adds. “He can cut loose and joke, which he enjoys. He told a pal that working on the show is an ‘absolute riot.’”

Despite his news background, Anderson, 42, has subbed for Regis many times on Live! and also has experience hosting entertainment shows, after fronting The Mole and The Mole II.

Other possible candidates to replace Regis include Deal Or No Deal host Howie Mandel and American Idol frontman Ryan Seacrest.

“I can’t and won’t answer that,” Kate replied curtly during the chat, airing this Thursday. “I keep certain things private, and that’s one.”

Reg added, “I think you [and your husband] will get back together and live happily ever after. I think everything is going to work itself out — he’ll say he’s sorry, that he loves you and everything will be good.”

Kate was stunned speechless as the show cut to commercial.

Yay! Who Wants To Be A Millionaire is returning to ABC. On Wednesday, the network announced that host Regis Philbin will be back on primetime this summer for a special two-week event marking the 10th anniversary of the popular game show, which premiered in August 1999.

Has it been ten years already?

Millionaire returns to The Alphabet Network on Sunday, August 9 at 8 p.m. and will air for 11 nights before making its final broadcast on August 23.

Regis Philbin has pulled a Britney and signed up for a guest appearance on the CBS sitcom How I Met Your Mother. The veteran television personality will appear as himself on an episode of HIMYM to air Monday, Sept. 29 at 8:30 PM.

Spotted At

Live hosts Regis Philbin and Kelly Ripa will appear on the September 25 premiere of Ugly Betty, Ugly star America Ferrera announced on Monday morning’s edition of Live with Regis & Kelly.

Kelly’s soap starring husband, Mark Consuelos, will also make an appearance on the telenovela-inspired dramedy this season.

Out with Reg, in with Ry. Television/radio personality Ryan Seacrest has been tapped to replace showbiz vet Regis Philbin as co-host of the seventy-six year old’s beloved morning chatfest Live with Regis & Kelly. As Regis approaches his twentieth anniversary on the show, producers of the television staple are prepared to offer Seacrest big bucks to join Kelly Ripa on Live.

“Ryan would be the perfect successor to Regis. He’s subbed several times for Larry King on his CNN talk show, he has his own syndicated morning radio gig, hosts the biggest show on TV, and does special events and red carpet coverage for E! Entertainment Network.”

“The whole focus now is on Ryan to take over,” a show source reveals to the Globe. “They’ll have to think really big bucks to get him to sign on the dotted line.”

And even Live co-host Kelly Ripa seems to be on board….just as long as there’s something in it for her:

“Kelly knows Ryan-he’s subbed for Regis in the past and she’s co-hosted the Disney Christmas Day Parade for ABC with him. She likes him personally…but if they end up making him a sweetheart deal, she’s going to want hers, too! Kelly’s going to be on the warpath.”

Legendary television personality Regis Philbin will be honored at the 2008 Daytime Emmys with a Lifetime Achievement Award. The Daytime Emmys will be held in Los Angeles on June 20.

Regis Philbin on Valentine’s Day edition of Letterman Video