Just last week, we learned that last year’s Academy Awards host, Hugh Jackman, would not be returning for the job (Read: Good News Everyone: Hugh Jackman NOT Hosting The Oscars; Who’s Next?), leaving us wondering who would get the gig and if it would be worth caring about in the slightest. The NY Times is now reporting that the annual show’s producers have made not one choice, but two. That’s right, the next Oscars will have two hosts, and they are none other than comic legend Steve Martin and greatest actor ever to live, Alec Baldwin.

The plan this year to to have the wild and wacky antics of Martin contrast Baldwin’s calm, dry delivery. We know that both are very much capable of some great comedy, so it is easy to declare that this could be a phenomenal production. The two actors are also appearing together in master of the romantic comedy Nancy Meyers’ (What Women Want, The Holiday) It’s Complicated, where they will battle each other for the love of Meryl Streep.

Martin hosted in 2001, which resulted in an Emmy nomination for his efforts, and then again in 2003. I specifically named him as one of my three favorites along with Billy Crystal and John Stewart, so this news is pretty exciting to me. Baldwin has never hosted the show, but again, there’s no doubt that his style playing off of Martin’s could be brilliant. When asked to comment, Steve Martin simply said “I am happy to co-host the Oscars with my enemy Alec Baldwin.”

This announcement comes right on the heels of the announcement that Ricky Gervais will be hosting the Golden Globes, making both awards pretty appealing so far.

The Oscars will air on March 7, 2010.