Eight-year Saturday Night Live veteran Bill Hader on Tuesday confirmed that this season is his last on the long-running comedy sketch show. The actor, who joined in 2005, follows fellow cast mate Seth Meyers, who will take over as host of Late Night beginning next year.

Hader has in recent years been responsible for many of SNL's most viral characters, with hit “Weekend Update” city correspondent, Stefon; hysterical impressions of James Carville, Al Pacino, Lindsey Buckingham, John Mayer, John Boehner, Rick Perry, Adam Levine, Julian Assange and more.

“It was a hard decision, but it has to happen at some point,” Hader told The New York Times. “It got to a point where I said, ‘Maybe it’s just time to go.’ ”

His final episode will be this week's season finale, with host Ben Affleck and musical guest Kanye West. The one bright spot for many of Hader's fans: chances of Stefon showing up at the "Weekend Update" desk are now through the roof.

Although Meyers is expected to stay put through the end of 2013, he will depart midway through the 39th season to prep for his new gig. Meyers is currently the longest tenured player on SNL. His departure will leave Fred Armisen (who joined in 2002) as the veteran cast member, followed by Jason Sudeikis and Kenan Thompson (both 2005).

UPDATE (05.16.13): The New York Post and Entertainment Weekly are reporting that veteran players Fred Armisen (2002) and Jason Sudeikis (2005) will be joining Bill Hader and Seth Meyers in their exit from SNL, according to NBC sources. Armisen's departure is reportedly confirmed, while Sudeikis' exit is said to be "probably" likely sometime this year. Armisen has appeared less this season as he works on other projects, namely Portlandia. Sudeikis was considering leaving last year with Kristen Wiig, but he was lured back largely to portray Mitt Romney in the elections.

If both actors do leave, Kenan Thompson (2005) would be the senior player, followed by Bobby Moynihan, who joined in 2008.