Billy Bush is “horribly embarrassed” by the Donald Trump tape — while TV insiders are tittering that it must have been leaked by staffers on his former show “Access Hollywood.”

And while we’re told producers at “Today” and NBC News are appalled by his conversation with the presidential hopeful, Bush’s job at the morning show is safe.

An NBC insider said: “It happened 11 years ago … Billy was in a different place. He was a lot younger and more immature. He’s definitely embarrassed by this, but his job at ‘Today’ is safe.”

Another TV source continued, “Trump supporters might not care, but the ‘Today’ show will … they want Billy to look like ‘nice funny’ Billy, not a frat boy. The problem is that what to do if his interview subjects bring it up? He’ll have to address it on TV.”

Of his rival Matt Lauer, who isn’t happy about Bush being his heir apparent, the source added, “Somewhere in New York, Matt Lauer is having a big belly laugh.”

Bush told us in a statement, “Obviously I’m embarrassed and ashamed. It’s no excuse, but this happened 11 years ago — I was younger, less mature and acted foolishly in playing along. I’m very sorry.”

Click to read more from the New York Post.