Though the speculations continue that Late Night host Jimmy Fallon will replace Jay Leno, the two still found the time to collaborate and make a joke of it.

Leno, Tonight Show host, participated in a spoof during the start of the Late Night show on Monday night where the two talk on the phone to ask how each other are doing with the replacement talk. Then, the two sing a West Side Story rendition of Tonight.

According to The Hollywood Reporter, the musical bit was Fallon's idea. The Reporter also reported that Fallon closed a new deal with NBC to take over for Leno.

Hollywood Life reported that Leno is signed with NBC through 2014 and NBC execs considered launching Fallon as the host for Tonight, but based in NY not L.A., in February 2014 during Olympic coverage.

According to Hollywood Life, "Talk has been made of a change from Jay to Jimmy, but not as serious as it's been believed and hyped in the media because NBC is scared if they do it, they think that Jay would go elsewhere. So the announcement of a change is not imminent and they are more prone on signing Jay to another contract."

A source told the publication that FOX will likely be interested in Leno.

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