NBC announced on Friday that the network is planning on celebrating late-night comedy show Saturday Night Live's 40th anniversary in February 2015 with a special.

The special celebratory episode will not air on a Saturday, but will instead be shown on Sunday Feb. 15, 2015. The SNL episode will be a three-hour long special featuring past and current cast members, on top of special and musical guests.

NBC has not yet finalized who will show up on the 40th anniversary special just yet, but said it plans on revealing that news over the coming months.

"'Saturday Night Live' is an institution unlike anything else on television history," NBC Entertainment Chairman Robert Greenblatt said. "The many brilliant 'Not Ready for Primetime Players' over the years is a who's who of film and television comedy for the last two generations."

Greenblatt pointed out some of the big names to come out of the late-night comedy show, including Eddie Murphy, Billy Crystal, Will Ferrell, Adam Sandler and many others.

Since premiering on Oct. 11, 1975, SNL has managed to rack up an astonishing and record-setting 40 Emmy Awards and has been nominated 171 times. SNL was also inducted into the Broadcasting Hall of Fame.