The co-commentator got his wires crossed and informed viewers that the Celtic legend was poorly.
Wallace, 74, said: “It came as a bit of a shock to me to discover I wasn’t well.
“Just in case anyone is concerned, I can assure everyone that I am in good health.
“I think the TV guy might have been referring to a little illness I picked up about two years ago. I developed shingles after a fairly lengthy drive from Sydney to the Gold Coast.
Wallace, in fact, watched Celtic beat The Rangers 2-0 in the League Cup semi-final on Aussie TV last Sunday.
He added: “My old club thoroughly deserved their victory, but I thought they might have scored a few more goals.
“In my day, Big Jock Stein would have ordered us to pile them on.
“Anyway, it’s good to see the team doing well at the moment. Long may it continue.”