Paul Shaffer Might Leave 'Late Show With David Letterman' After His Contract Expires

10:29 PM PDT 10/14/2012 by Kimberly Nordyke

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The late-night host's longtime sidekick and musical director, who earns a reported $5 million a year, says he's "going to be certainly ready to lie down ... take a nap" in two years.

It's hard to imagine David Letterman without Paul Shaffer by his side, but the late-night host's longtime sidekick and musical director says he might be ready to call it a day when his Late Show contract expires.

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“We’ve been on 30 years so now we’ve got another two years … I’m going to be certainly ready to lie down after that, take a nap,” he told TV Guide Canada over the weekend.

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Still, he admitted that nothing is set in stone just yet.

"Life is nutty -- anything can happen," he added. "I’ve been so lucky and blessed to be working this long in show business. And whatever happens now is just gravy to me.”

Shaffer, 62, got his start in entertainment as the musical director for the Toronto production of Godspell and went on to become a member of the Saturday Night Live house band. He also released two solo albums and co-wrote and co-produced the 1984 hit song "It's Raining Men."

Shaffer joined up with Letterman in 1982 for the launch of Late Night With David Letterman on NBC, leading the World's Most Dangerous Band. In 1993, he made the move with Letterman to CBS for Late Show, where he leads the CBS Orchestra, after NBC passed Letterman over for the Tonight Show hosting job in favor of Jay Leno.

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Shaffer earns a reported $5 million for his Late Show gig.

Despite the fact that he's considering leaving his longtime cohort, he has nothing but praise for Letterman, calling him the "quickest guy in show business."

Reps for Late Show have yet to comment.