President Barack Obama is on The Tonight Show Starring Jimmy Fallon Thursday night, and you can watch it live online while it's happening.

The Tonight Show host Jimmy Fallon conducted another interview with Obama Thursday, where the president spoke candidly about the 2016 election and Republican presumptive nominee Donald Trump.

"This country works when you have two parties that are serious and trying to solve problems," Obama explained in the interview, which has already taped. "And they've got philosophical differences and they have fierce debates and they argue and they contest elections."

Despite being on the other side of aisle, Obama said the chaos going on within the Republican party right now "is not actually good for the country as a whole. It's not something Democrats should wish for."

He added that the United States ultimately needs a "healthy two-party system," adding that he's hoping for "some corrective action" after the election.

Obama's visit won't be entirely serious, though. Fallon tweeted on Thursday that Obama will be doing a "Slow Jam" segment, a popular game on The Tonight Show where guests read news in a deadpan manner, followed by Fallon reinterpreting in a more entertaining (sometimes sexual) manner.

Fallon's interview with Obama will air Thursday at 11:35 p.m. ET/PT on NBC.

If you wish to live stream the Obama interview, NBC has a special live streaming service at NBC.com/Live. All you have to do is enter your (or a close friend's) cable subscription information to watch the live stream for free.

Keep up with the Obama interview on The Tonight Show on Twitter by using hashtag #POTUSonFallon.