Will Ferrell will host Saturday Night Live on May 12, NBC announced today, marking his third time as host since he left the cast in 2002. He’ll also be the third former cast member to host this season, along with Jimmy Fallon and Maya Rudolph. The last time Ferrell hosted, back in 2009, the show ended with that baffling, wonderful ensemble performance of “Goodnight Saigon,” so, high hopes.