Philbin exited the morning chatshow in November 2011 after 29 years as one of the show's hosts, but Ripa told OMG Yahoo that his departure from Live! has only strengthened their personal relationship.
"[Regis] called me two nights ago, as a matter of fact. He called to tell me how happy he is for me and how proud he is of the job we're doing there and the great ratings news that came out," Ripa explained.
The host added: "He's always been such a wonderful guy and so irreplaceable, and that's why we're not trying to replace him. [We want to] do it in his honour but differently."
Donald Trump, Nick Lachey, American Idol's Randy Jackson and Neil Patrick Harris have all filled in for Philbin in recent months.
Ripa said that she has been so impressed by the quality of Live! with Kelly's guest hosts that she's is in no rush to find a permanent replacement for Philbin.
"The format of the show has always been built for two people to host and we are actively looking for a co-host. To our surprise, it's just been an embarrassment of riches because everyone is so good at it," she explained. "We've had so much fun doing it. It really sort of brings a new energy to the show."
Live! with Kelly airs weekday mornings in syndication.
> Regis Philbin: 'I'm too busy to miss Live! with Kelly'
> Regis Philbin: 'I won't return to guest host Live! with Kelly'