WATCH: Stephen Colbert's Brilliant and Hilarious Bill O'Reilly Take Down

In case you haven't noticed, Stephen Colbert and Bill O'Reilly are engaged in quite a late night spat. Quick background, last week O'Reilly put forth his absurd plan to hire an international, English speaking force of mercenaries to go around fighting Islamic extremism. It was mocked universally, even by people on his own network, but Stephen Colbert spoke admiringly about it and talked about his own "equally thought-out plan," which he had devised in his fourth grade notebook.

O'Reilly was so offended. He called Colbert a "Bleep" on the air. Literally, he used the word bleep, which Colbert found very tragic. He thinks Rupert Murdoch should "spring for a bleep machine."

Last night, Colbert illustrated his bleep machine when he called O'Reilly, "a fucking egomaniac," bleeped out, of course.

Colbert was particularly hurt that O'Reilly said "Colbert, and others of his ilk."

"Bill, baby doll, you're of my ilk. We're ilk mates," Colbert said. "I'm not mocking your plan. I'm the only one who likes it."

Colbert continues his stunning takedown in similar fashion.

Watch: