Kathie Lee Gifford is writing a 'Today Show' musical

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Brace yourself for potentially life-changing news: "Today" co-host Kathie Lee Gifford is writing a musical about "The Today Show." Gifford announced the exciting production during Friday's (Aug. 1) airing of her show.

The 18-minute musical will feature members of the "Today" team singing and acting, plus guest star Regis Philbin -- who just happened to be filling in for Hoda Kotb when the announcement was made. What is this bit of theatrical genius called? "Not Today and Tomorrow's Not Looking Good Either."

When will it be released? It doesn't sound like Gifford has a solid release date yet -- she says it's coming between today and NBC's live "Peter Pan" around Christmas. Much like that production, however, the "Today" musical will be performed live. "It's going to be so much fun!" Gifford gushes to Philbin about the play.

Believe it or not, this is actually Gifford's second attempt at playwriting. Her 2012 musical, "Scandalous," opened to dismal reviews and then promptly closed again after only three weeks of performances. The "Today" musical is therefore almost guaranteed to do better.

Photo/Video credit: Getty Images, NBC