The 2010 Academy Awards: Live Coverage!

8:58 PM: Ohhhh, snap! The Hurt Locker takes Best Picture too! Cameron’s gonna need a tissue and a hug…

8:53 PM: Kathryn Bigelow wins Best Director. In your face, James Cameron!

8:50 PM: Sandra Bullock wins Best Leading Actress for The Blind Side. Somehow, presenter Sean Penn manages not to punch her out as she approaches the stage.

8:43 PM: They really are trying to kill us with these multiple pre-presenters, aren’t they?

8:31 PM: Jeff Bridges wins Best Leading Actor for Crazy Heart. Also wins Actor Most Likely to Be Confused With Kris Kristofferson. His beard really brings the room together.

8:16 PM: The Secret in Their Eyes wins Best Foreign-Language Film. Hey, remember 1996, back when this awards ceremony began? Good times.

8:07 PM: Best Film Editing goes to The Hurt Locker. Next up: Keanu Reeves’ beard wins Best Tribble Imitation.

8:02 PM: The Cove wins Best Movie That Nobody’s Ever Seen. Oh wait, sorry, that’s Best Documentary Feature.

7:55 PM: Avatar takes away Best Visual Effects. But what about the team that keeps Bradley Cooper looking so outstanding?

7:47 PM: A dance tribute to the best movie scores. What, Mummenschanz wasn’t available?

7:41 PM: A tribute to dead celebs, and no Billy Mays or Captain Phil? For shame!

7:35 PM: Is Sandra Bullock’s lipstick courtesy of Ringling Bros.? Oh, BTW, Avatar won Best Cinematography.

7:24 PM: And the Best Sound Editing Award goes to The Hurt Locker. We almost didn’t hear it over the sound of how awesome Zac Efron’s hair is.

7:18 PM: Kristen Stewart and Taylor Lautner deliver a tribute to horror films. You can tell K-Stew is scared, because she’s biting her lip.

7:10 PM: The Young Victoria scores Best Costume Design. Getting…very…sleepy…

7:07 PM: Avatar wins Best Art Direction. Ooh, bet Kathryn Bigelow is peeved!

7:03 PM: Hey, y’all, if you’re not following our Oscars coverage on Twitter, you’re really missing out on something special.

6:59 PM: Mo’Nique wins Best Supporting Actress for Precious. But has she met Bic Lady yet?

6:56 PM: Who experienced red-carpet FAIL this year? Click through our gallery to see this year’s Oscars fashion snoozers!

6:50 PM: Best Adapted Screenplay goes to Precious: Based on the Novel “Push” by Sapphire. Is anybody surprised? The name of the book is right in the title of the movie, people!

6:41 PM: Ben Stiller: Sexy Na’vi, or sexiest Na’vi? BTW, Star Trek wins Best Makeup, because pointy ears are teh hawtness.

6:36 PM: The New Tenants takes away Best Live Action Short Film. Whoa, who saw that coming?

6:34 PM: Music by Prudence wins Best Documentary Short Subject. Upset of the year!

6:31 PM: Logorama wins Best Animated Short Film, because you can never emphasize product placement enough. Also, “applause” is a verb now. Who knew?

6:21 PM: If this John Hughes tribute proves one thing, it’s that there was actually a time when Matthew Broderick didn’t look like he wanted to hang himself.

6:16 PM: Best Screenplay goes to The Hurt Locker. Fun fact: It was originally written as a musical.

6:10 PM: Hey, y’all; miss the red-carpet pageantry of this year’s Oscars? Check out our photo gallery of Academy Awards arrivals.

6:05 PM: Best Original Song goes to “The Weary Kind” from Crazy Heart. And there go our hopes for a Randy Newman/Miley Cyrus meet-up.

5:59 PM: Up wins Best Animated Movie. Never underestimate the sex appeal of Ed Asner.

5:56 PM: Way to know who you’re standing next to, Cameron Diaz.

5:54 PM: Hey y’all, don’t forget to get even more Oscars coverage by following Celebuzz on Twitter.

5:47 PM: Christoph Waltz takes Best Supporting Actor for Inglourious Basterds. Also takes  away Most Meticulous Facial Hair honors.

5:42 PM: Jew jokes, Steve Martin? Really?

5:32 PM: Is this the first Academy Awards opening song with a prison-sex joke?

5:30 PM: Okay, showtime! Let the games begin!

5:25 PM: Can someone explain why Taylor Lautner’s tux doesn’t have a cutaway section to showcase his abs?

5:16 PM: 14 minutes till showtime. Before the games begin, make sure to check out our gallery of Oscars red-carpet arrivals.

5:08 PM: Standing in for Zac Efron tonight—Zac Efron’s Madame Tussauds wax figure.

4:53 PM: Make sure to follow Celebuzz on Twitter for even more Oscars coverage!

4:40 PM: Gabourey Sidibe just compared her Oscars dress to an onscreen ejaculation. Awesome.

4:34 PM: Jennifer Lopez is totally gonna knock someone over with that dress. Hope her insurance is paid up.

4:26 PM: George Clooney was apparently too busy making love to his new girlfriend to get a haircut for the Oscars. Or is he prepping for a starring role in Mullets and Blue Jeans: The Billy Ray Cyrus Story?

4:20 PM: Want even more Oscars coverage? Follow Celebuzz’s live tweet on Twitter.

4:13 PM: Did Miley Cyrus just admit that she’s dating Liam Hemsworth? It’s an Oscars miracle! PS: What’s up with her posture?

4:09 PM: Make sure to check out our gallery of red-carpet arrivals from this year’s Oscars.

4:03 PM: Amanda Seyfried is having a really hard time masking how glad she is to be done with Big Love on the red carpet.

Welcome to Celebuzz’s coverage of the 2010 Academy Awards!

Keep checking back for up-to-the-second updates of the red-carpet arrivals and ceremony. And make sure to follow Celebuzz on Twitter for our live tweet of this year’s Oscars!