It was just announced that two vets of Saturday Night Live‘s stage will combine their live audience experience to front next year’s Academy Awards.

Steve Martin and Alec Baldwin’s dual selection comes just one year after Hugh Jackman received praise for his Oscars gig. It also comes one week after Ricky Gervais was appointed to the 2010 Golden Globes post.

“Steve will bring the experience of having hosted the show in the past and Alec will be a completely fresh personality for this event,” Adam Shankman, this year’s producer, said.

Martin, the host of 2001 and 2003’s awards show, said he was looking forward to working again with his former 30 Rock co-star. “I am happy to co-host the Oscars with my enemy Alec Baldwin,” the 64-year-old claimed.

That sentiment was also shared by Baldwin. “I don’t play the banjo but I’m thrilled to be hosting the Oscars – it’s the opportunity of a lifetime,” the 2003 Best Supporting Actor nominee (The Cooler) stated.

The 82nd Annual Academy Awards will air March 7 on ABC.