This will be Letterman's first visit since Philbin returned to the air after heart surgery in April 2007. The two compared scars and swapped stories about their bypass operations during that show.
Other celebrities lined up for "Live" guest shots include Robert Downey Jr. on April 29, with Betty White, Gwyneth Paltrow, Tom Selleck and Russell Crowe appearing the following week.
The Associated Press contributed to this report.