Steve Martin and Alec Baldwin will host the 82nd Annual Academy Awards. Last year's ceremony was successfully hosted by the vibrant Hugh Jackman who impressed immensely.

This marks the third time Martin will be acting as host. The last time was back in 2003 which was anything but spectacular. The duo can be seen together in the upcoming Nancy Meyer's film "It's Complicated." Whether that title and their performance together will be referenced at the Oscars, remains to be seen.

Adam Shankman produces the Oscars with Bill Mechanic and air date is on March 7th on ABC.