Lara Spencer is moving on up! Since news of her extended contract with ABC's Good Morning America made headlines, the 44-year-old television journalist has now been promoted to co-anchor on the ABC morning news show.

"A key member of our on-air team, Lara Spencer, rejoined ABC three years ago -- bringing her style, humor, sunny confidence, wonderful journalism and storytelling to GMA. Lara is clearly an essential ingredient in the success we have enjoyed and I am so pleased to announce that Lara has been elevated to co-host of the program along with Robin and George," said ABC News president James Goldston in an official ABC statement released on Friday.

Goldston continued, "Lara grew up at WABC and GMA and then returned to us in 2011 as GMA mounted its epic challenge. A New York Times best-selling author with another book on the way, the creator and executive producer of Flea Market Flip on HGTV and great mom to Duff and Kate, Lara is simply as talented as they come."

Lara's promotion comes amidst a series of changes within the GMA family. In December, meteorologist Sam Champion left GMA for his own show at the Weather Channel while news anchor Josh Elliot left the show in March after ABC declined to meet his terms for a new contract, Variety reports.

Since Champion and Elliot's departure, ABC has also enlisted football player turned television personality Michael Strahan to be a part-time correspondent for their morning lineup.

Strahan announced his new ABC gig in early April on the set of his Live with Kelly and Michael show.

"So what is surprising is I had a meeting, and we talked about the possibility there, and then I went to see Captain America with Samuel L. Jackson and I get out of screening and I check my messages and I'm on Good Morning America," Strahan revealed on air.

Michael will be taking on a new role with GMA while Lara remains right at the place she's always in enjoyed.

While gushing over her GMA job to the Hollywood Reporter Lara said, "You know you're in the right job when getting up at 4 a.m. is a joy. This was a simple decision; I love what I do, and I adore the people I work with. I am thrilled to be on this team and look forward to many more years."

Congratulations Lara!