US Olympic swimming phenomenon Michael Phelps will make his acting debut hosting the season premiere hot off his record-shattering performance in Beijing.

Joining Phelps and also making his SNL debut is hip-hop superstar Lil Wayne. Not only one of the best rappers of his generation, Lil Wayne is arguably the biggest story in music for 2008. His sixth album "Tha Carter III" sold over 1 million copies in its first week of release, a feat not achieved since 2005's "The Massacre" by 50 Cent. "Tha Carter III" has blazed up the singles charts as well with three top-five singles in "Lollipop," "A Milli" and "Got Money." In addition to the platinum debut numbers for the CD, Wayne is a tireless performer so prolific that in 2007, Vibe magazine ranked and graded songs to which Wayne contributed and the list was 77 songs long. Wayne is a constant presence on the internet, releasing his own mixtapes for free on a regular basis. He has been one of GQ's "Men of the Year" for 2007 and was named the "Best Rock Star Alive" by Blender magazine (2008). Rolling Stone may have said it best: "The self-proclaimed greatest rapper proves he wasn't kidding."