The silver fox, who made the announcement while Hill was on screen, said: "[I] cannot imagine doing this program without Erica Hill and I cannot really express how much I'm going to miss you."
Hill will be moving to CBS News where she has been co-host of the "Early Show's" Saturday edition since September 2008.
The brunette 33-year-old, who has also occasionally anchored "CNN Tonight," started at CNN in 2003 as a Headline News anchor.
The news comes on the heels of Hill's October announcement that she is pregnant with her second baby.
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