Cobblers boss Colin, recently joined by another ex-Spur and coach Davd Kerslake, sprung a surprise in last night's third round replay at Rotherham United to clinch the fourth round cracker against the Premiership champions.
The tie will earn his side a relative fortune and will be screened live on Sky Sports on Sunday January 25.
A delighted Colin beamed: "It will be a wonderful occasion for the club and one I want the players to enjoy.
"We have got a big prize tonight from their effort and endeavour and the lads have never played better for me."
Colin made 198 appearances for us between 1993-1999 before returning to our coaching staff in the summer of 2001.
He joined the Third Division outfit in October having spent two full seasons in charge of our reserves, helping the develpment of the likes of Stephen Kelly, John Jackson, Rohan Ricketts, Dean Marney and Jamie Slabber - all of whom have now appeared in the Premiership.
Spurs favourite Colin Calderwood has booked a dream FA Cup tie against Manchester United with his new club Northampton Town.