Ellen Degeneres, Tina Fey "Topping the List" in the Running to Replace David Letterman

The search to find David Letterman's replacement just got a whole lot funnier.

Many highly qualified candidates have been throwing their names into the running to take over the late night chair when The Late Show's David Letterman retires next year.

Among these names are Stephen Colbert, and Jon Stewart. But CBS could make history with the next two choices that have just been announced.

Ellen DeGeneres and Tina Fey are also now in the running to taking over the late night post.  The New York Post reports that DeGeneres and Fey are both names high on the list to replace David Letterman when he retires next year.

Both choices would be making history in late night television.

Tina Fey would become the first female late night host but also would become the third member of the SNL family to have a late night talk show on a major network following behind Jimmy Fallon and Seth Meyers.

For DeGeneres, she not only would be the first woman host but would also become the first openly gay anchor to host late night.

A source told The News that having either one of these funny ladies host, "would be a masterstroke."

It was announced last year that Ellen's daytime talk show has been renewed through 2017, making it seems less likely that she would leave her show to pursue this opportunity. The Ellen DeGeneres Show, now in its eleventh season has been a hit since debuting in the fall of 2003.

Ellen has declined to comment on the rumors but a rep for Fey said that she is one of the stars "topping the list" of contenders.

We think it's about time to see a funny lady take over as a late night host. Tell us what you think in the comments below.