TODAY   |  June 03, 2010

He loves you! McCartney serenades first lady

After being honored at the White House, Sir Paul McCartney performed the Beatles love tune “Michelle,” joking he could be the "first guy ever to be punched out by a president." TODAY’s Natalie Morales has more details.

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This content comes from a Full-Text Transcript of the program.

NATALIE MORALES, anchor: And another big honor for Paul McCartney last night at the White House . He was awarded the Gershwin Prize for Popular Song . And he brought the house down when he sang this song with first lady Michelle Obama looking on. Take a listen.

MORALES: Well, and you know the rest of the lyrics, of course, "I love you, I love you, I love you." And McCartney joked he could be the first guy ever to be punched out by the president, which of course did not happen. In fact, the president looked pretty pleased there. It is now 7:17. Back over to Meredith and Matt.