NBC has announced that Lorne Michaels, the producer and creator of 'Saturday Night Live', will star in a new reality series in which the winner will earn a spot on the long running late night comedy show.

The program would be similar to 'Last Comic Standing' in that a group of 'undiscovered' comics will be competing for the grand prize. Instead of a cash sum, the winner will earn a spot on the next season of SNL, a hit for NBC since its debut in 1975.

Michaels is expected to star in the show and dismiss contestants each week in a manner similar to Donald Trump on 'The Apprentice'.

'Saturday Night Live' has been a launching ground for the careers of many great comedians and actors over the years. Stars like Bill Murray, Chevy Chase, Eddie Murphy, Mike Myers, Jimmy Fallon and Will Ferrell all came to prominance after starring on SNL.

One source claimed the show would launch in the summer, leading up to the launch of SNL's new season in October but NBC has declined comment.