Wagner will continue to be seen on the show's upcoming summer episodes, but plans to depart after that to focus on her acting career. Producers Endemol USA and Matt Kunitz are currently conducting a search to find her replacement as host along side John Henson and John Anderson.
"After four seasons of co-hosting Wipeout I have been given the opportunity to pursue new directions in my acting career, which I am very passionate about," Wagner tells TV Guide Magazine. "I am extremely grateful to all those at Wipeout, Endemol and ABC, who have been so supportive of me through these years."
Wagner has been a part of the show, reporting from Wipeout's obstacle course (while the two Johns comment from the booth), since its 2008 debut.
Wagner first broke in Hollywood as a performer on MTV's Punk'd. She later appeared on episodes of Monk and Bones, and starred in Spike TV's Blade: The Series. In features, Wagner was seen in Guess Who? and Splinter.
"We have loved the sense of humor and energy Jill has brought to our show as the co-host for the past four seasons," Kunitz says. "She will certainly be missed but we wish her nothing but the best. We look forward to bringing a new, fun and vibrant personality to next season's Wipeout."
It's unclear where Wagner will end up next, but it's probably safe to say that big, bouncy red balls won't be a part of it.