SECOND UPDATE: Obama Campaign responds:

SPRINGFIELD, Mo. -- Asked by ABC News if he'd heard the prank call played on Alaska Gov. Sarah Palin, Robert Gibbs, a senior adviser to Sen. Barack Obama, D-Ill., told reporters that he'd heard parts of it.

His response?

"I'm glad we check out our calls before we hand the phone to Barack Obama," Gibbs said.

UPDATE: Palin's campaign responds:

Gov. Palin received a phone call on Saturday from a French Canadian talk show host claiming to be French President Nicholas Sarkozy," emailed spokeswoman Tracey Schmitt. "Gov. Palin was mildly amused to learn that she had joined the ranks of heads of state, including President Sarkozy, and other celebrities in being targeted by these pranksters. C'est la vie."

 This is so embarrassing, I can't even listen to it. Palin Gets Pranked.

"Notorious Quebec comedy duo talks politics in prank call to Sarah Palin."

MONTREAL -- A Quebec comedy duo notorious for prank calls to celebrities and heads of state has reached Sarah Palin, convincing the Republican vice-presidential nominee she was speaking with French President Nicolas Sarkozy.

In the interview, which lasts about six minutes, Palin and the pranksters discuss politics, pundits, and the dangers of hunting with current vice-president Dick Cheney.

The Masked Avengers, who have a regular show on Montreal radio station CKOI, intend to air the full interview on the eve of the U.S. elections.

The well-known duo of Sebastien Trudel and Marc-Antoine Audette have also tricked Rolling Stones singer Mick Jagger, Microsoft founder Bill Gates and French president Jacques Chirac.

The call to Chirac was rated by the BBC as one of the top 30 best moments in radio history of all time.

Are we seeing the most incompetent presidential campaign ever? I mean seriously, how does something like this happen? It must be a complete embarassment to be a Republican right now. This certainly says a lot about national security credentials. 

Following is the transcript of the phone call posted by Jake Tapper at http://abcnews.blogs.com/

transcript:

GOV. SARAH PALIN: This is Sarah.

MASKED AVENGERS: Ah, yeah, Gov. Palin.

GOV. PALIN: Helloooo!

MASKED AVENGERS: Just hold on for President Sarkozy, one moment.

GOV. PALIN: Oh, it's not him yet, they're saying. I always do that!

MASKED AVENGERS: Yes, hello, Gov. Palin...

GOV. PALIN: Hello, this is Sarah, how are you?

MASKED AVENGERS: Fine, and you? This is Nicolas Sarkozy speaking, how are you?

[Note: Sarkozy does not speak fluent English.]

GOV. PALIN: Oh, so good, it's so good to hear you. Thank you for calling us.

MASKED AVENGERS: Oh, it's a pleasure.

GOV. PALIN: Thank you sir, we have such great respect for you, John McCain and I. We love you and thank you for taking a few minutes to talk to me.

MASKED AVENGERS: I follow your campaigns closely with my special American adviser Johnny Hallyday, you know?

[Note: Hallyday is a French singer and actor.]

GOV. PALIN: Yes, good.

MASKED AVENGERS: Excellent. Are you confident?

GOV. PALIN: Very confident and we're thankful that polls are showing that the race is tightening and --

MASKED AVENGERS: Well I know very well that the campaign can be exhausting. How do you feel right now, my dear?

GOV. PALIN: I feel so good. I feel like we're in a marathon and at the very end of the marathon you get your second wind and you plow to the finish.

MASKED AVENGERS: You see, I got elected in France because I'm real and you seem to be someone who's real, as well.

GOV. PALIN: Yes, yeah. Nicolas, we so appreciate this opportunity.

MASKED AVENGERS: You know I see you as a president one day, you too.

GOV. PALIN: (laughing) Maybe in eight years.

MASKED AVENGERS: Well, I hope for you. You know, we have a lot in common because personally one of my favorite activities is to hunt, too.

GOV. PALIN: Oh, very good. We should go hunting together.

MASKED AVENGERS: Exactly, we could go try hunting by helicopter like you did. I never did that. Like we say in French, on pourrait tuer des bebe phoques, aussi.

[Translation: We could also kill some baby seals.]

GOV. PALIN: Well, I think we could have a lot of fun together as we're getting work done. We can kill two birds with one stone that way.

MASKED AVENGERS: I just love killing those animals. Mmm, mmm, take away life, that is so fun. I'd really love to go, as long as we don't bring along Vice-President Cheney. (Laughs.)

GOV. PALIN: No, I'll be a careful shot, yes.

MASKED AVENGERS: Yes, you know we have a lot in common also, because except from my house I can see Belgium. That's kind of less interesting than you.

GOV. PALIN: Well, see, we're right next door to different countries that we all need to be working with, yes.

MASKED AVENGERS: Some people said in the last days and I thought that was mean that you weren't experienced enough in foreign relations and you know that's completely false. That's the thing that I said to my great friend, the prime minister of Canada Stef Carse.

[Note: That is not the name of the prime minister of Canada. The prime minster of Canada, since January 2006, is Stephen Harper. THIS is Stef Carse.]

GOV. PALIN: Well, he's doin' fine, too, and yeah, when you come into a position underestimated it gives you an opportunity to prove the pundits and the critics wrong. You work that much harder --

MASKED AVENGERS: I was wondering  because you are so next to him, one of my good friends, the prime minister of Quebec, Mr. Richard Z. Sirois, have you met him recently? Did he come to one of your rallies?

[Note: There is no prime minister of Quebec, though there is a premier. His name is Jean Charest. Sirois is a Canadian humorist.]

GOV. PALIN: I haven't seen him at one of the rallies but it's been great working with the Canadian officials. I know as governor we have a great co-operative effort there as we work on all of our resource development projects. You know, I look forward to working with you and getting to meet you personally and your beautiful wife. Oh my goodness, you've added a lot of energy to your country with um, with that beautiful family of yours.

MASKED AVENGERS: Thank you very much. You know my wife Carla would love to meet you, you know, even though you know she was a bit jealous that I was supposed to speak to you today. (Laughs.)

GOV. PALIN: Well, give her a big hug for me.

MASKED AVENGERS: You know my wife is a popular singer and a former top model and she's so hot in bed. She even wrote a song for you.

GOV. PALIN: Oh my goodness, I didn't know that.

MASKED AVENGERS: Yes, in French it's called de rouge a levre sur un cochon, or if you prefer in English, Joe the Plumber...(singing) it's his life, Joe the Plumber.

[Translation: Lipstick for a pig.]

GOV. PALIN: Maybe she understands some of the unfair criticism but I bet you she is such a hard worker, too, and she realizes you just plow through that criticism.

MASKED AVENGERS: I just want to be sure. That phenomenon Joe the Plumber. That's not your husband, right?

GOV. PALIN: That's not my husband but he's a normal American who just works hard and doesn't want government to take his money.

MASKED AVENGERS: Yes, yes, I understand we have the equivalent of the Joe the Plumber in France. It's called Marcel, the guy with bread under his armpit, oui.

GOV. PALIN: Right, that's what it's all about, the middle class and government needing to work for them. You're a very good example for us here.

MASKED AVENGERS: I see a bit about NBC, even Fox News wasn't an ally, an ally, sorry as much as usual.

GOV. PALIN: Yeah, that's what we're up against.

MASKED AVENGERS: Gov. Palin, I love the documentary they made on your life. You know Hustler's Nailin' Paylin?

[Note: Nailin' Paylin is a pornographic movie.]

GOV. PALIN: Ohh, good, thank you, yes.

MASKED AVENGERS: That was really edgy.

GOV. PALIN: Well, good.

MASKED AVENGERS: I really loved you and I must say something also, so governor, you've been pranked by the Masked Avengers. We are two comedians from Montreal.

GOV. PALIN: Ohhh, have we been pranked? And what radio station is this?

MASKED AVENGERS: This is for CKOI in Montreal.

GOV. PALIN: In Montreal? Tell me the radio station call letters.

MASKED AVENGERS: CK...hello?...