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It's finally here, movie fans: the 83rd Annual Academy Awards have arrived!

After weeks and months of analysis and speculation, hopes and fears, nervousness and anticipation, the biggest night in Hollywood is here at last. Who will win Best Picture? Who are the best actors of the year? These questions and more will finally earn their answers in the coming hours, and we're here to keep you updated on all of them.

Stay here with MTV Movies Blog all night long for our continually updating LIVE coverage of Oscar night. Make sure to keep refreshing those browsers as we bring you the latest updates on the winners, losers and much more!

11:41 PM ... And that's a wrap, ladies and gentlemen! What did you think of this year's Oscars? Exciting? Predictable? Perhaps a bit of both? We want to know what you thought of the night in the comments section and on Twitter, so what are you waiting for? Give us that feedback, and have an excellent evening!

11:38 PM ... On the flip side, "The King's Speech" tied with "Inception" as the top award-getter of the night with four a piece. Even though "Inception" didn't snag the big awards, it still says something that a blockbuster action flick can lead the Academy Awards in such a decisive way. We're not far off from that big budget Best Picture winner, mark my words.

11:35 PM ... "The King's Speech" wins the Oscar for Best Picture. "The Social Network" was the early favorite at the beginning of awards season, but there was no stopping the Colin Firth-led feature once it really got rolling. Nicely done, sirs, even if our hearts belong to the Facebook flick.

11:32 PM ... Steven Spielberg walks out to the "Jurassic Park" theme song. All presenters should walk out to the "Jurassic Park" theme song. #realtalk

11:29 PM ... The final award of the evening, Best Picture, is coming up after the commercial break. Who's going to take it home? Is it a showdown between "The King's Speech" and "The Social Network," or will one of the other eight contenders snag the win? It's your final chance for predictions everyone, so make 'em count!

11:25 PM ... Colin Firth wins Best Actor for "The King's Speech." In a field of incredibly worthy candidates, he was the worthiest of the bunch. And he's not even stammering through his speech! How 'bout that!

11:20 PM ... And just like that, it's Best Actor time already. Sandra Bullock is presenting and calling out each actor one at a time. This could take a little while, which is fine with us -- just prolonging the inevitable Colin Firth victory.

11:16 PM ... Natalie Portman wins Best Actress for "Black Swan," surprising few but pleasing many. Sure, it's the predictable outcome, but it's also the most deserving one. And Luc Besson makes it into her speech, to boot! "The Professional" fans the world over are cackling with mad glee.

11:12 PM ... The Best Actress race is about to come to an end. Will it go to Natalie Portman? Annette Bening? One of the other contenders? We're just minutes away from an answer!

11:03 PM ... Aaaaand it goes to Tom Hooper. Definitely a deserving winner, but David Fincher was our favorite and our official pick for the award. That's three for "Social Network," two for "King's Speech." Is that a comeback I smell?

11:02 PM ... Best Director time. Last call for bets!

10:57 PM ... Whoa, Corey Haim snub? What gives?! "Lucas" didn't earn him a spot in the "In Memoriam" section? That is utterly ridiculous!

10:53 PM ... The "In Memoriam" segment is always an emotional ride. We lost some great people this year -- George Hickenlooper, Dennis Hopper, Irvin Kershner, Dino De Laurentiis... the list goes on, tragically.

10:44 PM ... Randy Newman wins for "We Belong Together." That's not the big surprise. The big surprise is that Newman has only won an Oscar twice, and that first win was not for "You've Got A Friend In Me." How that surefire victory didn't pan out is completely beyond me.

10:35 PM ... "The Social Network" earns its third award with Film Editing. That's two over "The King's Speech." Once again for the newcomers -- where's that sweep at?

10:33 PM ... That's four for "Inception." Chris Nolan lost the director nom, but his movie is crushing it so far all the same.

10:30 PM ... Even as a projected image, Bob Hope is a sight for sore eyes.

10:26 PM ... Billy Crystal! "So, where was I?" Excellent question, sir. This show (and its audience) misses you very, very much, with all due respect to Mr. Franco and Ms. Hathaway.

10:21 PM ... "Inside Job" wins Best Documentary Feature, robbing everybody of the once-in-a-lifetime opportunity to get Oprah Winfrey and Banksy on the same stage. But good for Charles Ferguson and Audrey Marrs!

10:18 PM ... If this auto-tune musical interlude isn't on iTunes within the hour, I'm going to be a very unhappy camper.

10:14 PM ... "Strangers No More" wins the Academy Award for Documentary Short Subject. "God of Love" wins for Best Live-Action Short Film. Sixteen awards down -- you're still awake, right?

10:12 PM ... Watch short movies so you can win your office's Oscar pool. Excellent advice from the exceedingly wise Jake Gyllenhaal.

10:07 PM ... Who knew Chuck could sing? Is that a new Intersect 2.0 skill?

10:02 PM ... Best Original Song time. Strap in, grab a drink and listen up, peeps!

9:59 PM ... And "Alice in Wonderland" wins for Costume Design, beating "The King's Speech," which has still only won one award thus far. What happened to that sweep everyone was talking about?

9:57 PM ... "The Wolfman" wins for Best Makeup. Cate Blanchett sums it up nicely: "That's gross."

9:55 PM ... "Congratulations, nerds." Cold, Franco. So, so cold.

9:49 PM ... "Inception" wins Best Sound Editing as well. That's three for the night, and at this single moment in time, "Inception" is leading at the Academy Awards. Can it keep the pace?

9:47 PM ... Best Sound Mixing goes to "Inception," the second award of the evening for Chris Nolan's mind-bending sci-fi thriller. Pretty sure any other result would have been bogus.

9:40 PM ... Trent Reznor and Atticus Ross win Best Original Score for "The Social Network," and rightly so! Hans Zimmer's "Inception" score was outstanding, but Reznor and Ross' tracks were the ones to beat. For those keeping score at home, that's two for "Social Network" and one for "King's Speech."

9:32 PM ... Academy Award Winning actor Christian Bale. Has a nice ring to it, doesn't it? It took long enough, I'll say, but there's no question that his performance in "The Fighter" is the very best of his already tremendous career. Can't hate on a self-referential "Terminator Salvation" anger rant joke, either!

9:28 PM ... Foreign Language Film goes to "In A Better World" from Denmark. Not to worry, "Biutiful," you still have a chance through Javier Bardem and the Best Actor category -- if he can get past Colin Firth, that is...

9:25 PM ... James Franco adds "cross-dressing at the Oscars" to his never-ending list of weird things to do in life. Also, first Charlie Sheen joke of the night is locked and loaded!

9:24 PM ... Anne Hathaway, calling Hugh Jackman out via "Les Miserables" parody. That's pretty much the only way to go.

9:18 PM ... And now "The King's Speech" is on the board as well, with David Seidler winning the Best Original Screenplay award. Ladies and gentlemen, the race between the top two contenders is officially on.

9:14 PM ... "The Social Network" is officially on the board. It's Aaron Sorkin's first nomination and first win, which is pretty shocking given the quality of his work. But well-earned, Mr. Sorkin. It would have been an absolute crime if he lost this one.

9:12 PM ... Bardem and Brolin presenting together. It's a veritable "No Country For Old Men" reunion. Missed opportunity that Bardem isn't in his Anton Chigurh get-up, though!

9:06 PM ... As if there was any other possible result, "Toy Story 3" claims Best Animated Feature Film. Incredibly well-deserved, as is the film's Best Picture nomination. Pixar continues to put out some of the very best movies in Hollywood every single year, and "Toy Story 3" may well be the studio's crowning achievement.

9:04 PM ... Short Film (Animated) goes to Shaun Tan and Andrew Ruhemann for "The Lost Thing." It's their first Oscar nomination and their first win. Haven't seen the short, sadly, but I'll be sure to fix that. Have you seen it?

9:01 PM ... Justin Timberlake is Banksy? Nice try, but we all know it's James Franco.

8:57 PM ... And Best Supporting Actress goes to Melissa Leo for "The Fighter," as expected. By the by, Leo and Douglas are giving Douglas and Hathaway a run for their money in the chemistry department!

8:54 PM ... It's early in the night, but I'm going to go ahead and say Kirk Douglas is the 2011 Oscars MVP.

8:51 PM ... Kirk Douglas and Anne Hathaway. In another reality (re: "Fringe" season three), that's a match made in heaven.

8:47 PM ... "Inception" wins its first Oscar for Best Cinematography! Way to go, Wally Pfister! Living the dream!

8:44 PM ... Time for our first award in the category of Achievement in Art Direction. And the Oscar goes to... "Alice in Wonderland." Despite our pleas, "Harry Potter" is snubbed again. There's always the Visual Effects category.

8:40 PM ... James Franco's grandmother is adorable: "I just saw Marky Mark!"

8:37 PM ... What, no time-traveling DeLorean on stage? Booooo!!

8:35 PM ... If Morgan Freeman narrated all of our dreams, the world would be a much better place.

8:34 PM ... Now I want to see Franco and Hathaway in a Western together. Or just Franco and Hathaway in a bear-suit / double eye-patches. Any genre will do.

8:32 PM ... If you didn't understand "Inception" before, hopefully Franco, Hathaway and DiCaprio's explanation did the trick. Also, where do we get a Capri Sun bag filled with Ambien?

8:30 PM ... Opening with the classic Winklevoss race from "The Social Network." Really, is there a better way to kick things off?

8:23 PM ... Less than ten minutes to go, and you know what that means: last chance to make your predictions! Go vote in our Best Picture poll, and you can read the Movies Blog team's predictions as well.

8:10 PM ... We're 20 minutes away from showtime, folks, but here on Movies Blog, the show's been going on for the past two hours. Did you watch our livestream coverage from the red carpet? If not, shame shame shame! We'll have the highlights from the livestream for your viewing pleasure soon, so make sure to stay tuned.

Give us your Oscars feedback in the comments section and on Twitter!