BEI Images; AP Photo

The 83rd Annual Academy Awards just got a major infusion of cool with the news that Anne Hathaway and James Franco will host them! “James Franco and Anne Hathaway personify the next generation of Hollywood icons—fresh, exciting and multi-talented,” Oscar telecast producers Bruce Cohen and Don Mischer said in a press release on Monday. What’s more, it’s possible that both Anne and James will be nominated—for their roles in Love and Other Drugs and 127 Hours, respectively. Nominations for the February 27th show will be announced January 25th.

MORE! Check out our Top 10 Academy Award Gowns Ever.