04/11/2014 06:24 am ET Updated Dec 06, 2017

Stephen Colbert On David Letterman's Retirement: 'I Do Not Envy Whoever They Try To Put In That Chair!'

Uh-oh... Looks like someone forgot to tell Stephen Colbert that Stephen Colbert is going to be taking over the "Late Show With David Letterman" when David Letterman retires next year.

"I am going to miss this good man," Colbert said of Letterman on Thursday night's episode of "The Colbert Report."

"This man has influenced every host who came after him and even a few who came before him, he's that good. And I gotta tell you, I do not envy whoever they try to put in that chair," Colbert said, shaking his head as the audience went wild. "Those are some huge shoes to fill -- and some really big pants."

Colbert will reportedly drop the satirical right-wing character he portrays on "The Colbert Report" and instead host the "Late Show" as himself.

In other words, enjoy clips like the one above while they last.

Also on Thursday night, Jon Stewart reacted to the news of Letterman's retirement and his close friend being given the chance of a lifetime on "The Daily Show."

“While we wish Dave the absolute best for a well-earned retirement, there is no greater joy than seeing a genuinely good man who works as hard as he can every day, and deserves all the success in the world, actually get that success. So, for Stephen, we’re just thrilled."

But Stewart also provided a different kind of tribute by playing a clip of a time when Colbert totally lost it on-air. See that and his full reaction in the video below.

WATCH: Stewart's reaction to Colbert taking over 'The Late Show'