And The Oscars Go To -- Jackman

(Photo: Splash News Online) According to reports, Hugh Jackman has signed on to host the 81st Academy Awards on February 22nd.

The 40-year old "sexiest man alive," and star of the upcoming Wolverine has reportedly agreed to terms to emcee the marquee event.

While a handful of dramatic actors have hosted in the past, the Oscars are traditionally helmed by comedians like Bob Hope and Jon Stewart.

"Someone of Hugh's caliber would put the 'class' back in the Academy," a Hollywood insider agrees.

Jackman presented the Best Live Action Short Oscar at the 2002 Academy Awards, but wasn't too sure how natural he felt.

"Getting up there in a suit and talking for a little bit is kind of bizarre," he said.