What Will Happen When Martin Short Hosts?

11:30 PM Cold Open

The hosts of Fox & Friends (Taran Killam, Vanessa Bayer, and Bobby Moynihan) confusedly discuss the issues of the day, including Susan Rice's withdrawal from consideration to succeed Hillary Clinton as Secretary of State, and the 12/12/12 milestone.

11:36 PM Monologue

Host Martin Short briefly interrupts the Christmas episode to sing an original Hanukkah song for all the show's Jewish viewers, in which he's assisted by musical guest Paul McCartney.

11:44 PM

Local news reporter Herb Welch (Bill Hader) ineptly interviews a shopkeeper (Short) about a recent epidemic of vandalism and theft in the downtown business area.

11:52 PM

Ed Grimley (Short) excitedly prepares his apartment for the holidays.

11:58 PM Commercial Parody

In the trailer for the new holiday comedy This Is 80, embattled wife Debbie (Cecily Strong) notices that her husband Pete (Martin Short) has spent twenty minutes on the toilet, and congratulates him on working through the aftereffects of his lunch with such alacrity; later, they fearlessly climb gingerly into a therapeutic hot tub and share a cookie laced with Ambien.

12:04 AM

Paul McCartney performs.

12:11 AM Weekend Update

The monkey (Fred Armisen) who wandered through a Toronto Ikea store wearing a shearling coat explains how he came to be there; Stefon (Hader) advises tourists as to the best places to visit in New York during the holidays.

12:25 AM

On her eponymous talk show, Ellen DeGeneres (Kate McKinnon) can barely contain her excitement about her 12 Days Of Giveaways.

12:30 AM Short Film

After his triumph replacing Kurt Cobain in Nirvana at the Hurricane Sandy fundraiser earlier this week, Paul McCartney documents his auditions for gigs fronting other bands, including TLC, Weezer, and The Arcade Fire.

12:37 AM

Celebrity journalist Jiminy Glick (Short) has a hard time connecting with the stars of today, including Taylor Swift (Nasim Pedrad) and Jake Gyllenhaal (Killam).

12:48 AM

Paul McCartney performs.

12:54 AM Commercial Parody

A promo for the upcoming Golden Globes award ceremony highlights some of the, shall we say, less expected nominees (Smash?!).

1:00 AM

People wave goodbye, hug.