It appears that Hollywood dreams do come true. Veteran Saturday Night Live comedian Jimmy Fallon has been officially proclaimed to carry on the torch left by Conan O’Brien for the Late Show, as O’Brien succeeds the retiring Jay Leno on the Tonight Show by 2009.

Like Conan O’Brien, Fallon earned his bones during his stay with Saturday Night Live. He was a regular co-host for the Weekend Update, and was included in a number of comedic skits for the show. Both O’Brien and Fallon are excited with the “move”. Fallon states that he is happy to be working with producer Lorne Michaels again. Michaels is the producer of Saturday Night Live and also co-produces the Late Show.

On a side note, Jay Leno is reportedly “privately” unhappy with his coming retirement. It is also said that rival networks have been secretly making deals with him. While his current network NBC, is said to be looking for ways to keep Leno present in the network.