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He celebrated the launch of his new Sundance Channel series "Spectacle" with a live performance at the Edison Ballroom in Times Square.

For Costello, the show isn't just for laughs.

"It's a talking show about music. When you say ‘talk show,’ you imagine those short little conversations, and ultimately lighthearted. There's humor in this but there's also some serious moments,” said Costello. “And obviously there's more performance in this than you get in most evening talk shows. I was on the David Letterman show guest-hosting that, which at least gave people the idea of seeing me doing that kind of show."

Guests this season include Elton John, Lou Reed, Tony Bennett and singer/songwriter Jenny Lewis, who says the fact that Elvis is a musician made it easy for her to open up.

"Truly to be able to speak with someone who knows everything about music and is so thoughtful and careful and concerned with how you feel as a performer, and during the questioning process it was an experience like none other I'd ever been a part of,” said Lewis.

"I know what it feels like to be in that position and hopefully my questions make them relax a bit,” said Costello. “And I try to ask them about the things they're very enthusiastic about, not necessarily go right through every moment of their career because they've probably told that story a lot of times."

When it comes to his guests, Costello wants to keep it real.

'"I didn't really want to talk to anybody that I would have to feign enthusiasm for. Some of them are personal friends but it also wouldn't be any good if they were exclusively just my friends. It would be too inside," said Costello.

The only non-musical guest in the first season is Bill Clinton.

But Elvis says the sax-playing former president still fit the theme of the show.

"He did genuinely begin as a musician, and he talked about that curious moment when he discovered that his real vocation was in another area," said Clinton.

“Spectacle” with Elvis Costello premieres December 3 on the Sundance Channel.