Every time Elvis Costello is on The Colbert Report, great stuff happens. The last time he was on, he and Stephen did their unforgettable duet of "All I Have to Do Is Dream." The time before that, Stephen filled in for a voiceless Elvis on vocals for a rendition of "Cheap Reward." To be honest, when I found out Elvis was going to be on again last night, I was pretty much expecting s'mores to come out of my TV. It didn't happen, but this exclusive performance of "Goodnight Irene" is the next best thing.

In case you missed it, you can watch Stephen's interview with Don Fleming, Emmylou Harris and Elvis Costello below, along with their performance of "Good Old Mountain Dew."

The Colbert Report airs Monday through Thursday at 11:30/10:30c.