regexp-replace default

[Joe]

Hey all,
Hopefully a simple question for the emacs wizards out there.  Say I do
a regexp-relace of:

M-x replace-regexp
  Replace regexp: foo
  Replace regexp with: bar

But then I realize I actually wanted foo to baz.  When I do M-x
replace-regexp it shows me the default

M-x replace-regexp
  Replace regexp (default foo -> bar):

Is there someway to get the default text and edit that instead of
typing it in again?

Thanks,
Joe