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NBC is planning a new special to celebrate 40 years of Saturday Night Live, the network announced Friday.

The three-hour live special will air Sunday, Feb. 15, 2015 and will feature appearances by current and past cast members, as well as special guests and musical acts.

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"Saturday Night Live is an institution unlike anything else in television history," NBC Entertainment Chairman Robert Greenblatt said in a statement. "This brand, which is still one of the highest-rated comedies on television, was the brainchild of Lorne Michaels, who still presides over the whole enterprise today. This special is just one of the many ways we plan to celebrate SNL's historic 40th season next year."

Saturday Night Live premiered in 1975 and was the jumping off point for many actors and comedians who've gone on to lead successful careers, including Billy Crystal, Mike Myers, Chris Farley, Will Ferrell, Chevy Chase, Norm McDonald, Jimmy Fallon, Amy Poehler, Tina Fey, Maya Rudolph, Seth Meyers, and more. The show has also won 40 Emmy awards.

Who do you hope to see return for the 40th anniversary special?