It has been announced that Steve Martin & Alec Baldwin will be hosting the Oscar March 7, 2010.
Martin's hosted previously (2000 & 2002) and we should expect their hosting to be entertaining. Not only have they had the opportunity to set records for hosting SNL (Steve Martin holds the record with 15, Alec Baldwin right behind with 14), but they also presumably have some great chemistry as Meryl Streep's love interest in the upcoming Nancy Myers comedy It's Complicated. Not to mention crashing each others Saturday Night Live episodes, Martin has also appeared on 30 Rock, in his Emmy nominated guest appearance.
In fact, one can expect a little It's Complicated reunion, since Meryl owns the Oscar stage and will surely be at least nominated for Julie & Julia.
I'd have to stay, this seems like a great pairing for hosting the 82nd Academy Awards ceremony.