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Conan O'Brien and his wife Liza were all smiles as we snapped them making their way to the valet yesterday afternoon in Los Angeles. While we're sure he's enjoying his time off (not to mention his hefty settlement from NBC!), we're guessing the real reason he's beaming is because he's resumed talks with Fox.

Not only are negotiations back on, but it looks like Conan has set the stage for a possible announcement as soon as this spring. You see, Conan's 30-city comedy tour schedule has him in New York on May 17, which just so happens to be the date for Fox's fall upfronts. And coincidentally, Conan isn't performing on the 17th, so we're hoping to hear something that night about his return to the fall television schedule!