Having already got their mitts on the Golden Globe for Best Original Song, U2 will be looking to complete the awards double after bagging and Oscar nomination this afternoon.
Their song 'Ordinary Love' from the soundtrack to Mandela: Long Walk To Freedom is up against 'Alone Yet Not Alone' from the film of the same name, Pharrell Williams' 'Happy' from Despicable Me 2, Kristen Anderson-Lopez' 'Let It Go' from Frozen and 'The Moon Song' by the Yeah Yeah Yeahs Karen O from Spike Jonze's movie Her.
Having already bagged the Golden Globe U2 are certainly favourites to win the Oscar too but sometimes the Academy can be a pernickety bunch so you can never really trust the bookies' odds.
It is custom for the nominees to perform on the night and, if indeed they do, it will be U2's most high profile public performance in over three years.
You can find out for sure who will win when the 86th Academy Awards kicks off on Sunday March 2nd, although you'll have to stay up until the wee hours.
The Nominees for Best Original Song are:
'Alone Yet Not Alone' from Alone Yet Not Alone (music by Bruce Broughton; Lyric by Dennis Spiegel)
'Happy' from Despicable Me 2 (music and lyric by Pharrell Williams)
'Let It Go' from Frozen (music and lyric by Kristen Anderson-Lopez and Robert Lopez)
'The Moon Song' from Her (music by Karen O; Lyric by Karen O and Spike Jonze)