David Letterman Welcomes Stephen Colbert To 'The Late Show'... And Talks 'Boobs'

'They could have gone with a boob like me. They didn't,' Letterman says of his replacement.

It looks like David Letterman is ready to pass off the late-night torch.

Two weeks after CBS announced that Stephen Colbert would be Letterman's successor on "The Late Show," "The Colbert Report" host appeared on the program Tuesday (April 22) for the first time since the announcement.

"I'm going to do whatever you have done," Colbert said, graciously. "I'm thrilled. It's an honor to be taking over for you."

After telling the incumbent host that he "looked right at home" on the set, Letterman gave the Comedy Central veteran his blessings firsthand.

"I'm thrilled as well," Letterman said. "Paul (Shaffer) and I have been doing this a long, long time. They could have just as easily hired another boob like me. They didn't."

Without missing a beat, Colbert retorted with his own punchline, "Every boob is like a snowflake, Dave. We're all unique in our own way."

According to CBS, Colbert has signed a five-year contract with the network. When CBS initially tapped Colbert to fill Letterman's shoes, the "Daily Show" alum paid homage to the late night icon on his own Emmy Award-winning show.

"Dave has been on the air my entire adult life. Late Night debuted my first night in college," Colbert said. "I learned more from watching Dave than going to my classes, especially the ones I did not go to because I stayed up till 1:30 watching Dave."