Jimmy Fallon has some serious competition in new "Late Night" host Stephen Colbert, who hosted "The Late Show with Stephen Colbert" Tuesday night for the first time. The talk show is on at the exact same time as Fallon's "The Tonight Show Starring Jimmy Fallon." Instead of starting a late night host feud, Fallon welcomed Colbert with open arms.

"I want to say congratulations to our pal Stephen Colbert and his buddies over at the Late Show," Fallon told viewers following his "Tonight Show" monologue, according to Entertainment Weekly. "Stephen Colbert starts tonight. Unfortunately it's on a different network at the same time that my show's on so I can't watch, but I wish him all the luck in the world. Congratulations to everybody over there."

Fallon even made a surprise appearance on Colbert's debut show, according to Just Jared. The "Late Night" host was showing off his new television monitor behind his desk that he could watch live TV on. Colbert flipped through the channels and found an episode of "The Tonight Show," which he decided to record. Colbert and Fallon had a quick little chat where they compared their guests for the night and promised to catch up with each other in the locker room after their shows.

"Have a great show, buddy. See you in the locker room," Fallon joked.

"You don't want to know about the smell," Colbert warned. "It's pretty ripe in there."

Check out Fallon and Colbert's interaction below!