Steve Martin and Alec Baldwin will be co-hosting the 82nd Academy Awards next year. The Academy of Motion Picture Arts and Sciences announced the decision on Tuesday (November 3rd), which pairs Martin, a two-time hosting veteran, with the rookie Baldwin.

Martin said in a statement, "I am happy to co-host the Oscars with my enemy Alec Baldwin."

Baldwin addressed the appointment, saying, "I don't play the banjo but I'm thrilled to be hosting the Oscars -- it's the opportunity of a lifetime."

The show's producers Bill Mechanic and Adam Shankman said in a statement, "We think the team of Steve and Alec are the perfect pair of hosts for the Oscars. Steve will bring the experience of having hosted the show in the past and Alec will be a completely fresh personality for this event."

The show will be held on March 7th of 2010.