Will Ferrell's notorious Saturday Night Live impression of James Lipton from Inside The Actors Studio might not have been extremely flattering, but it was definitely humorous. Luckily, Lipton has the ability to laugh at himself -- and hey, the portrayal didn't really impact his show negatively, so why not laugh along?

On Watch What Happens Live, Lipton discussed his first thoughts when he heard that Ferrell was taking him on as a character, as well as what it meant to him.