Witherspoon, wearing a gorgeous white floor-length strapless gown by Roland Mouret, reached out for her former co-star, who looked dapper in a black suit. The actress is nominated for Best Performance by an Actress in a Television Series -- Drama for her role on The Morning Show, while Phoenix is nominated for Best Performance by an Actor in a Motion Picture -- Drama for Joker. Both Witherspoon and Phoenix previously won Golden Globes for their roles in Walk the Line.
Sunday's awards show also served as a Friends reunion for Witherspoon and her Friends sisters, Jennifer Aniston and Christina Applegate, all of whom were nominated for awards.
"We should all win! Mom and Dad Green are really proud," Applegate joked to ET on the red carpet.