For the first time in 24 years, an Oscar nominee will also host the show! James Franco, who got the nod this morning for his performance in "127 Hours," will host this year's show alongside Anne Hathaway. The modest star tells "Extra" his good fortune comes as a surprise. "I doubt anyone ever expected me to be the Oscar host... including myself."

Academy President Tom Sherak told The Wrap that the show will not be affected in any way. "It makes no difference to us. I don't see it having an effect on voters."

If Franco wins, will he have to ditch his hosting duties to fulfill his press room interviews? Sherak responds, "We'll deal with it."

Past nominee/hosts include Paul Hogan, Michael Caine and David Niven.

In "Extra's" one-on-one with James, he talks about his "Three's Company" art installation and claims he has "no agenda" when it comes to this year's Oscars. "People ask me if I write me own lines, no, I wouldn't know what to write. I have no desire to make my mark on Oscar host history."

The 83rd Academy Awards will air live on Sunday, February 27 on ABC.

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