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Regis Philbin finally has a new partner.

"All My Children" actress Kelly Ripa was introduced Monday as Philbin's co-host on the syndicated talk show. Producers had been holding open auditions since Kathie Lee Gifford left last July.

Ripa, 30, has filled in as co-host four times since September, and announced during one appearance that she's pregnant with her second child. She's married to fellow "All My Children" actor Mark Consuelos.

"We kind of knew it the first time she was on," Philbin said. "She has an ebullient personality and has a lot of the qualities we were looking for."

Starting next Monday, "Live With Regis" becomes "Live With Regis and Kelly."

A New Jersey native, Ripa has played Hayley Santos since 1990 on the ABC daytime drama.

Like Philbin, who does double duty as host of ABC's prime-time game show, "Who Wants to Be a Millionaire," Ripa said she'll keep working on the soap opera, although her role will become less prominent.

"I think it's like an ABC policy -- you must work two jobs," Ripa said on the morning show.

"Between the two of us," Philbin replied, "we've got 40 percent of the schedule covered. If we go down, ABC is over."

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