*After picking up the Library of Congress’ Gershwin Prize for Popular Song from President Barack Obama Wednesday night, Paul McCartney promptly serenaded his wife with “Michelle,” the classic Beatles tune that shares her name. [See highlights below.]

“I love you, I love you, I love you,” he sang to Michelle Obama during the 90-minute White House concert, which will air July 28 on PBS stations nationwide. McCartney later quipped that he might be the “first guy ever to be punched out by a president.”

The former Beatle became the third and only non-American to win the prestigious honor from the Library of Congress. Previous recipients include Paul Simon (2007) and Stevie Wonder (2009).

President Obama awards Paul McCartney with the Library of Congress Gershwin Prize for Popular Song in Washington, on Wednesday , June 2, 2010

“After the last eight years, it’s great to have a president who knows what a library is,” McCartney joked.

Wonder was among a roster of top performers putting their own spin on some of McCartney’s most memorable tunes. The lineup included Corinne Bailey Rae, Elvis Costello, Dave Grohl, Herbie Hancock, Emmylou Harris, Faith Hill, Lang Lang, Jack White and comedian Jerry Seinfeld.

Visit msnbc.com for breaking news, world news, and news about the economy