Anne Hathaway and James Franco to host the 2011 Academy Awards?

According to Deadline, Anne Hathaway and James Franco have been asked to host the 2011 Academy Awards!

I've just learned that the Academy of Motion Picture Arts & Sciences has asked James Franco and Anne Hathaway to host the Academy Awards, and it "looks like" both young stars have accepted the offer. There is always the chance that one of them might back out because of prior commitments. Both are starring in Fox movies out in theaters now: Franco in Fox Searchlight's 127 Hours, and Hathaway in 20th Century Fox's Love And Other Drugs.