Regis Philbin: "No, I'm Not Sick"

NEW YORK (CBS) After Regis Philbin announced Tuesday that he is stepping down from "Live with Regis and Kelly" later this year, rumors being swirling as to why he was retiring.

But the morning talk show co-host assured viewers Wednesday that his health wasn't a factor, saying, "No, I'm not sick."

Philbin went on to hold up newspaper clips with stories about his announcement. "I don't want to get morbid about this but I almost felt like I was looking at my obituary," he said.

PICTURES: Regis Philbin
READ MORE: Regis Philbin Announces Retirement from "Live"

As for his replacement? "I heard 50 Cent!" co-host Kelly Ripa joked.

On Tuesday's "Late Show With David Letterman," Philbin called in to talk about the announcement.

"I'm leaving the show. I'm not retiring from show business," he clarified over the phone.

Letterman asked if Philbin would appear on his show.

"Once in awhile, Dave," he said. "Not too often."

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