Comedy Central’s Jon Stewart and Stephen Colbert teamed up for Indecision 2008, a live one-hour comedy special culminating their satirical coverage of the campaign, which aired Tuesday night.

“It’s long overdue for America to have a Hawaiian president,” says Jon Stewart.

Sitting at The Daily Show desk, Stewart and Colbert delivered over-the-top election coverage with fake reports from campaign headquarters but factual updates on polling numbers.

And at 11 p.m. EST, Jon became possibly the first comedian ever to announce presidential election result on live television.

“I would just like to say, if I may … that at 11 o’clock at night, Eastern Standard Time, the president of the United States is Barack Obama.”

Click here to watch more clips from last night’s live election special with Jon Stewart and Stephen Colbert on the Indecision 2008 website.