The pals sang danced their way through a montage that commemorated the show's 40-year history

As NBC late night’s reigning emcee, it’s only fitting that Jimmy Fallon kicked off Saturday Night Live‘s 40th anniversary special on Sunday.

Joined by his friend (and five-time SNL host) Justin Timberlake, Fallon ran through a song-and-dance history of the show’s highlights from the Coneheads and the Olympic Cafe’s “Cheeseburger, cheeseburger” through the “schwing”-ing ’90s of Wayne’s World to “More cowbell!” and “Lazy Sunday” – they even snuck in the Fallon-Timberlake signature jingle “Bring it on down to SNL!”

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After more touchstones (Schweddy Balls! Matt Foley! The Spartan Cheerleaders!) – not to mention appearances by Debbie Downer (Rachel Dratch) and Mary Katherine Gallagher (Molly Shannon) – Timberlake and Fallon closed out the medley with a soft-shoe routine and the standard “Live from New York, it’s Saturday night!”