Year after year, their syndicated talk show - Live with Regis and Kelly - had been jilted for a Daytime Emmy.

They knew it was time to take a stand.

Then inspiration struck.

"Most of the great successes of our show have begun as a joke," Ripa says. "So we were kidding around that we should have our own awards show, with categories where only we are nominated against ourselves. That way, we couldn't lose."

"We couldn't MISS getting SOME kind of an AWARD!" Philbin blares. "We wanted an AWARD in this BUILDING! THAT was our reasoning!" He pauses for a breath. "And, to have some fun."

Thus the Relly Awards were born. And on a special airing of Live last September, the inaugural Rellys were handed out.

How time flies. Live will present the second annual Relly Awards (9 a.m. today, Channels 9, 7) in more than a dozen self-affirming categories including Best Guest Co-Host, Favorite Musical Guest, Funniest Guest and Best Audience Winner. Also, Best Dressed: Will Regis as Kid Rock collect a trophy?

Leading the pack in nominations are Regis and Kelly, with 10 apiece (including four they share in competition with themselves for Best Host Chat), followed by Ben Affleck (with three nominations), and other past guests Donald Trump, Howie Mandel and Dana Carvey, each with two.

Winners were chosen online by the Live audience (this much of the contest is serious) with each destined to take home a coveted Golden Stool, the trophy-size version of the seating that accommodates Live co-hosts and guests.

Golden Stool?! Well, that part is a little less serious. And if last year is any indication, this year's Relly gala will serve Live not just as a much-deserved pat on its own back, and as a clever sort of retrospective of the past season's highlights - but also as a riotously wacky send-up of all awards telecasts.

This year: more and better, promises executive producer Michael Gelman, who expects these stars to be among the glitterati as audience members, presenters and red-carpet arrivals outside the studio: Andy Dick, Carrot Top, Chris Rock, Glenn Close, Kwame Jackson (The Apprentice), Martin Short, Pamela Anderson, Paris Hilton, Ray Romano and Will Ferrell.

Gelman says he has the certified Relly results - but won't be sharing them beforehand with Regis or Kelly.

"They both hate surprises - which makes me love them even more.

"But as a viewer, I hate awards shows," he confesses. "Even though I love the entertainment business, I'm so tired of seeing people in our business get awarded, and honor themselves, and take themselves so seriously."

Of course, the question might be asked, why has Live never won an Emmy as best talk show? Could it be because, after 16 years as a daytime TV staple, it's simply taken for granted by Emmy judges?

By now, Philbin, in particular, is certainly part of the television landscape: Last month he claimed the Guinness World Record for most time logged on camera: 15,188 hours. That's more than 1.7 of his 73 years on the air.

"At this point in my life, being on TV is almost like washing my face or having lunch, or anything else you do every day," says Philbin, who has no plans to retire.

"While you gotta get ready for it more than you would for washing your face, for me, when it's happening it's just as normal as can be."