Regis Philbin and Kathie Lee Gifford

Regis Philbin and Kathie Lee Gifford will co-host together for the first time in 12 years on Wednesday's fourth hour of Today.

Gifford, 58, made the announcement on Monday's Today after she had dinner with her former co-host and his wife, Joy, over the weekend. "We just pick up where we left off," Gifford said. "We're just going to let him show up and let the sparks fly. Should be fun!"

Regis Philbin signs off Live! after 28 years

Although Gifford and Philbin have appeared together since she left Live! in 2000, they have not co-hosted anything together. Philbin, 80, will take over for Gifford's regular partner in crime, Hoda Kotb. Philbin left Live! in November after 28 years on the show. He later said he left over contract issues. His permanent replacement has yet to be named.

The fourth of Today airs weekdays at 10/9c on NBC. Are you excited to see Kathie and Rege back together?