Jimmy Fallon for Late Night Laughs

Rumors had been flying since last July that Jimmy Fallon was a front runner to take over Conan O’Brien‘s ‘Late Night,’ and now according to reports, the deal is sealed.

NBC will reportedly make the formal announcement about Jimmy around May 11 or 12, when the network presents the fall 2008 schedule to advertisers here in New York, sources tell Fox News.

Last December, Jimmy, 33, married movie producer Nancy Juvonen in the Caribbean.

Conan O’Brien will be taking over for Jay Leno, who will leave the “Tonight” show in May 2009 as part of a forced retirement.

WILL YOU WATCH Late Night with Jimmy Fallon?