VIDEO: Martin Short & Fred Armisen Get Chummy on SNL's 'Old Friends,' 12/15

Check out SATURDAY NIGHT LIVE's sketch "Old Friends" from last night's episode below!

Actor and funnyman Martin Short hosted this week's SATURDAY NIGHT LIVE Christmas Special on NBC with musical guest Paul McCartney.

Former cast member Short returns for his third hosting appearance on SNL. Short is a veteran performer in film, television and theater. Paul McCartney will appear for his fourth stint as musical guest. The legendary musician is stopping by SNL in the wake of his new exclusive iTunes album "Kisses on the Bottom - Complete Kisses."

"Saturday Night Live," NBC's Emmy Award-winning late-night comedy showcase, continues its 38th season for another year of laughs, surprises and great performances.

Over the last three decades, "SNL" has launched the careers of many of the brightest comedy performers of a generation; and, as The New York Times noted on the occasion of the show's Emmy-winning 25th Anniversary special in 1999: "In defiance of both time and show business convention, "SNL" is still the most pervasive influence on the art of comedy in contemporary culture." At the close of the century, "Saturday Night Live" placed seventh on Entertainment Weekly's list of the Top 100 Entertainers of the Past 50 Years.

The program has won 36 Emmy Awards and now holds the title for the most nominated television show in Emmy history with 156 nominations. "SNL" has been honored twice, in 1990 and 2009, with the prestigious George Foster Peabody Award and cited as "truly a national institution." "Saturday Night Live" was inducted into the Broadcasting Hall of Fame by the National Association of Broadcasters, and the show continues to garner the highest ratings of any late-night television program, entertaining millions each week.