Steve Martin and Alec Baldwin will co-host the 82nd Academy Awards on March 7, 2010, at the Kodak Theater in Hollywood.

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

“I am happy to co-host the Oscars with my enemy Alec Baldwin,” Martin said.

“I don’t play the banjo but I’m thrilled to be hosting the Oscars – it’s the opportunity of a lifetime,” Baldwin, the double Emmy winning star of the TV hit 30 Rock, added.

Martin hosted the 73rd and 75th Academy Awards shows and earned an Emmy nomination for the former. He is currently touring with the bluegrass band Steep Canyon Rangers.