Comedy taking place in Toronto circa 1964 about a CBC variety show called "It's Ruby and Kip" which stars married/divorced/re-married TV couple Kip Delaney, and Ruby Kendall (played by real-life husband and wife Colin Mochrie and Debra McGrath). The show was once the number one rated show in Canada, but has slipped hard in the ratings as of recent, and their producer wants the show to tank the whole way. Ruby is the focal point of the show, while Kip is merely the piano player (making them essentially a 1960s Canadian 'Captain and Tenille'). Add to it their squabbling when off the camera (while trying to maintain a positive image ON camera), and the problems others involved with the show have, and you have for one good time.
Ruby and Kip learn the grim news about the show. But with a new executive and the crew ready to put up a fight, there may be a way to save the show's ratings and reclaim the number one spot.
A sponsor backs out of the show and the crew must find a new one or else the show will certainly be cancelled. Kip tries unsuccessfully, but Ruby manages to score a deal with a big food company. Kip manages to writes the company a jingle to feature on the show.
Kip gets into some trouble and the crew is blackmailed into putting Sister "Song" on the show or risk the story getting out. But as Kip tries to transform Sister "Song", the blackmailer is now happy.
Kip's gets his friend Jackie Kinghorn (guest star Wayne Brady) to perform on the variety show. But, tension mounts because the CBC executives are not keen on having Jackie and Ruby touching while performing. Kip and Jackie reminisce about old times but their stories don't match. Kip also becomes passionate and seduces Ruby at any chance he gets.
Kip wants to make a short film about one of the show's tunes, but when Ruby finds out that Lassie is the producer, she steps up to produce it herself. One part of the video gets a little too hot for TV and the outcome could be bad until one woman provides a solution.
The crew decides to shoot a Christmas episode in June, but Ruby and Kip's son has other ideas before getting involved. Kip heads to Las Vegas for some gambling. Meanwhile, the producers have a solution and starts finding a certain replacement, but he gets drunk and things get a little out of hand on screen.