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#Repost kellyripa: We are beyond saddened to learn about the loss of Regis Philbin. He was the ultimate class act, bringing his laughter and joy into our homes everyday on Live for more than 23 years. We were beyond lucky to have him as a mentor in our careers and aspire everyday to fill his shoes on the show. We send our deepest love and condolences to his family and hope they can find some comfort in knowing he left the world a better place. - Kelly and Ryan

A post shared by LIVE with Kelly and Ryan (@livekellyandryan) on Jul 25, 2020 at 1:25pm PDT

On Monday's episode of Live with Kelly and Ryan, Ripa and Seacrest shared their favorite memories of Regis Philbin - even shedding a few tears in between.

Kelly Ripa posted a heartwarming post about Philbin on Instagram, saying:

"We are beyond saddened to learn about the loss of Regis Philbin. He was the ultimate class act, bringing his laughter and joy into our homes everyday on Live for more than 23 years. We were beyond lucky to have him as a mentor in our careers and aspire everyday to fill his shoes on the show. We send our deepest love and condolences to his family and hope they can find some comfort in knowing he left the world a better place."

The Tribute of Regis Philbin 

💔 As we mourn the loss of a friend..we also celebrate his life. Regis’ legacy lives on in the laughter and happiness he brought each one of us. We are honored to be a part of his dream. pic.twitter.com/24U9QSBeKj

— LIVEKellyRyan (@LiveKellyRyan) July 27, 2020

The show plans to pay tribute to the late TV personality with ann updated version of the Regis Farewell Celebration Special that aired on November 8, 2011. The special will consist of a celebration of Philbin's reign on the show and will feature guests, musical tributes and Philbin's perspectives on his journey within the program.

But that's not all - throughout the week, Live will be sharing their favorite Philbin moments on their social media platforms as well as paying tribute to him on TV.