Kyle Sandilands and Jackie 'O' Henderson pop the champagne and celebrate with their team after signing record $200million 10-year deal with KIIS FM

• READ MORE: Jackie O rushed to hospital with 'heart attack symptoms' 

Kyle Sandilands and Jackie 'O' Henderson signed a historic $200million 10-year radio deal live on-air on Wednesday, which will see them expand into Melbourne.

And shortly after making the announcement, Kyle, 52, and Jackie, 48, celebrated the monumental occasion with their team.

A thrilled Kyle popped open a $100 bottle of Moët & Chandon Champagne in their Sydney KIIS FM studios to toast the news with Jackie and their hard-working crew. 

A beaming Jackie was glowing after a health scare saw her land in hospital the day before, as she cuddled up to Kyle in a designer corset-style dress. 

The Kyle and Jackie O Show posted several photos of the celebrations on their Instagram page with the caption: 'Cheers to the next 10 YEARS! #KJShow'.

Many of Kyle and Jackie's celebrity friends were quick to congratulate them on their record-breaking success.

'Well done! So very cool,' wrote celebrity trainer Michelle Bridges and TV presenter Jason Dundas added: 'Well done'. 

On Wednesday morning, the Sydney-based radio duo signed a record-breaking $200million, 10-year deal live on-air - keeping them on the airwaves until 2034.

A spokesperson for ARN confirmed to Daily Mail Australia the deal means Kyle and Jackie's KIIS FM work pals Jase Hawkins and Lauren Phillips will be out of a job and their Melbourne breakfast show will be finishing up in December.

Lauren broke down in tears while announcing the news to her listeners on Wednesday, sobbing that she didn't want to 'say goodbye to Melbourne'.

Jase and Lauren's show was successful for KIIS FM, bringing in new listeners for the station and sitting third in the Melbourne market behind Fox FM's Fifi Fev & Nick and GOLD104.3's Christian O'Connell.

In a statement to celebrate the historic contract renewal, Sandilands said, 'Fans of the show will be stoked to hear this 10-year deal is the longest radio deal in Australian history.

'Love us or loathe us, Jackie and I will be continuing with our politically incorrect nonsense for a long, long time.'

He added, 'We want to thank the listeners. Staff. All the clients. Even senior management, I'll give a nod to. They actually did something brilliant.'

This means the duo will dominate markets outside their Sydney-based audience and extend their reach into Melbourne for the first time.