In 1975, Michaels co-created a show called 'NBC's Saturday Night'. Today, 47 years, countless Emmys and one name change later, 'Saturday Night Live' is one of the most iconic shows in American television history.

But, all good things must come to an end. And while 'SNL' isn't ending anytime soon, it looks like Michaels' time as executive producer might be in its final stages.

With its 50th anniversary approaching, Michaels sees it as a poignant marker to step away from the show he helped create. "You know, I think I’m committed to doing this show until its 50th anniversary, which is in three years," he told CBS Mornings.

"I'd like to see that through, and I have a feeling that’d be a really good time to leave. But… I won't want the show ever to be bad. I care too deeply about it. It’s been my life's work. So I'm going to do everything I can to see it carry on."

It's not the first time Michaels has stepped away from the show. In the early 1980's, he left for five years before returning and staying ever since.

Michaels was also asked about the comedy of today and whether anything is out of bounds.

"I think it’s up to the writer or the performer to figure out how to do it," he replied. "There are lots of things that, when you hear the idea, sounds awful. But if they can do, I don’t think anything's out of bounds, is what I'm saying, if there's enough talent to figure out how to get it across."

SNL finished up its 47th season last week, with Paul Rudd hosting in front of an empty studio. The spread of Omicron meant that the season had to end on a quiet note. However, overall this newest season has been seen as an uptick in quality.