10/12/2008 05:12 am ET Updated May 25, 2011

Michael Phelps: More Nervous For "SNL" Than Olympics

Olympic swimming phenom Michael Phelps expects to be in deep comic waters when he hosts Saturday Night Live's 34th season premiere this weekend.

"I'm probably more nervous doing this than I was swimming in Beijing, I'll tell you that!" Phelps, 23, said Thursday.

Phelps, who won a record eight gold medals, began reading through skits with the cast Wednesday night, and it's already clear his wardrobe will be kept to a minimum, with parodies of his Olympics moments, his skimpy Speedos, his emotional mom in the stands - and even Phelps as Aquaman.

"There's some really, really funny skits - anything you can imagine, they nailed just about every topic," Phelps says.

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