Last night Stephen Colbert announced on his show that he is exploring a run for president. Additionally, the comedian is giving a considerable amount of money and power (his Super PAC Americans for a Better Tomorrow, Tomorrow) to his late-night colleague Jon Stewart.

Presidential candidates cannot coordinate with Super PAC’s and they certainly can’t run their own.  Stewart happily signed the documents and accepted the post.

Technically, no oficial announcement was made yet, but the host of the Colbert Report dropped a few hints that things were about to change. The first step towards the White House was made in announcing the formation of an exploratory committee in his name.

“Nation, I have a major announcement to make. For over a day now, the people of South Carolina have been crying out for someone to restore our nation’s former greatness to its current perfection,” said Colbert during the show. “Well, America, that someone is now. I am proud to announce that I am forming an exploratory committee to lay the groundwork for my possible candidacy for the President of the United States of South Carolina. I’m doing it. And with your help, and possibly the help of some sort of outside group that I am not coordinating with, we can explore taking this country back.”

Colbert, who grew up in South Carolina, said that he sees himself as “Mitt-ternative,” a reference to Republican front-runner Mitt Romney. Four years ago, Colbert briefly ran for president, focusing on his home state. He opted against filing as a Republican because of the fee and was rejected by the Democrats as not a “serious” candidate.

The next Republican primary vote is in Colbert’s home state, but he doesn’t have much of a chance at winning. The executive director of the South Carolina GOP, Matt Moore, dismissed Colbert’s potential presidential run saying,”South Carolina state law does not allow any write-in ballots in presidential primaries. There is no blank space on voting machines to write in a candidate. Stephen Colbert has about as much chance of being elected president in South Carolina as he has of being elected pope.”

Watch Colbert’s announcement here: