You think there'd be a little professional rivalry between Kelly Ripa and Kathie Lee – but you'd be wrong.

In fact, Ripa – Regis Philbin's current cohost – could not be more thrilled for her predecessor, who just landed a co-host gig on the fourth hour of NBC's Today show.

"I'm so exited for her," Ripa, 37, gushed to PEOPLE Wednesday. "Everybody's like, 'Have you ever met her?' I'm like, met her? I know her intimately! I'm so happy for her."

The two women worked together on an episode of Ripa's now-defunct sitcom, Hope & Faith, but Ripa says she was a fan of Gifford, 54, from her early days on Live with Regis & Kathie Lee.

"She's very influential in my life," said Ripa, who replaced Gifford on the show in 2001. "I saw her doing it all – a working mom. She had a big impact on me."


Happy Homemaker
These days, it's Ripa – who's married to actor Mark Consuelos – who's known as the quintessential working mother (to Michael, 10, Lola, 6, and Joaquin, 5). That might explain her newest role, star of the spring ad campaign for the Electrolux line of premium kitchen appliances.

The biggest perk? In addition to working with the company to raise cash for the Ovarian Cancer Research Foundation, Ripa now has a completely remodeled kitchen, tricked out with all the latest Electrolux gadgets.

"It's gorgeous," she said of their new, open-plan design combining the kitchen, living room and dining room. "It's where the kids do their arts and crafts. It's where Mark pays the bills. It's where we reconnect at the end of the day."

So does Ripa whip up gourmet meals every night? "When I had the sitcom, there was no cooking at all – I got home after dinner," she said. "Once the sitcom got cancelled ... I had more time to devote to being a mom and a wife and actually living a real life. It fulfilled me and fed me in a way."

Ripa admitted she's not the "world's greatest cook." But she does have a secret weapon. "I have a great mother-in-law who is so good to me," she explained. "She comes a couple of times a year and makes vats and vats of four or five difference sauces, like Bolognese, Pomodoro and pesto. She vacuum seals them and freezes them."

And now, thanks to her new induction hybrid cook-top – which boils water in 90 seconds – meals just got even easier. "Dinner is ready in five minutes instead of 45," Ripa said. "This is a way to simplify my life."