Bittersweet news, folks.  After eight years on Saturday Night Live, castmember Bill Hader has announced that he will exit the series after the end of this current season.  Speaking with the New York Times, Hader explained, “It was a hard decision, but it has to happen at some point. It got to a point where I said, ‘Maybe it’s just time to go.’ ”  The actor has been a standout on the show since his first appearance in 2005, solidifying himself as one of the best impressionists in SNL history with dead-on portrayals of everyone from Alan Arkin to Vincent Price.  His original characters are highlights as well, with Stefon appearances on Weekend Update eliciting squeals from both the live audience and folks watching at home.  Hit the jump for more.

While Hader’s exit will most definitely be felt on SNL come next season, the actor will no doubt flourish in more feature film roles.  He shined with his scene-stealing turns in Tropic Thunder and Men in Black 3, and Hader recently entered negotiations for his first starring turn in the comedy Lawless.  Later this year, he voices the lead in Cloudy with a Chance of Meatballs 2 and will be seen onscreen opposite Aubrey Plaza in the comedy The To-Do List.

Saturday Night Live seems poised for a rather large changing of the guard, as head writer Seth Meyers will leave the show this fall to replace Jimmy Fallon on Late Night and both Jason Sudeikis and Fred Armisen have been mulling over their own exits for the past couple of years.

Watch some highlights from Hader’s SNL career below.