At11:32 on NBC for 6 years from 1998-2004, Jimmy Fallon was a cast member of Saturday Night Live. He stole the show with his imitations of Enrique Iglesias and Jerry Seinfeld and is famous for being one of the few cast members to make Lorne Michaels laugh at his audition.

This Saturday, Fallon returns to Saturday Night Live to do something he’s never done before: host.

Yes, that’s right: Jimmy Fallon is hosting this week’s Saturday Night Live, with musical guest Michael Bublé. Fallon will most likely bring back classic skits, as well as aim to please in the writers’ new ones.

Thank God he’s back. Fallon will undoubtedly be one of the elite hosts of the season. He’s spontaneous, versatile, and energetic. He has been polishing his stage presence and charisma by hosting “Late Night with Jimmy Fallon,” his NBC talk show, so that should help him stay focused during skits (he has lost focus in the past). Fallon’s gig is great news for the show, which has been slouching in the ratings.

It’s also good news because Saturday Night Live is going down the drain.

There was once a Golden Era of Saturday Night Live. In fact, there were three: 1975-1980, with Chevy Chase, John Belushi and Dan Aykroyd, 1990-1995, with Chris Farley, Adam Sandler and Chris Rock, and 1998-2002, with Will Ferrell, Tina Fey and Amy Poehler. Not to mention Dana Carvey, Phil Hartman, Molly Shannon, Bill Murray and Eddie Murphy. Nowadays, there’s Jason Sudeikis, Bobby Moynihan and Kenan Thompson.

There’s a discrepancy there.

If not for comic queen Kristen Wiig, the SNL crew should really call it quits before it gets too late. They should save themselves the embarrassment of continuing on before it becomes the laughing stock of TV.

But when did SNL jump the shark? And how can Lorne Michaels save his beloved sketch comedy show?

First of all, I firmly believe that the shark was jumped when Will Ferrell was lost and subsequently replaced by Fred Armisen. How can Will Ferrell, arguably the most successful comic actor inHollywoodtoday, be replaced? It’s simply impossible. SNL should have quit right then and there.

But they kept chugging along.

Thank God for Jimmy Fallon, Tina Fey and Andy Samberg for providing some sparks in the show. Samberg, probably the most popular member, is keeping the show afloat with his digital shorts. But people will get sick of them.

As for Fallon, he is one of the best hosts this year among a crop of amateurs like pop singer Katy Perry and “Horrible Bosses” breakout Charlie Day. Fallon will bring back some of the best skits from the glory days and hopefully feature one or two celebrity guests, if he knows what’s best for him.

Perhaps Will Ferrell will return to the GE Building for a trip to the hot tub in a continuation of “The Lovers.” Maybe Justin Timberlake will talk it out with Fallon on “The Barry Gibb Talk Show.” Although there has been weeks of speculation, nothing is planned.

But that’s what makes it so exciting.