He's made a career out of sequels and threequels, but comedian Mike Myers has never had a follow-up like this. The comic chameleon has been tapped to host the 17th Annual MTV Movie Awards, premiering live June 1 from the Gibson Amphitheatre in Universal City, California.

For Myers, it will be his second time emceeing the anything-goes event, having previously hosted in 1997. Sorry, but you know we have to say it: Groovy, baby!

"Hosting the MTV Movie Awards is like a party, but without having to do beer runs in your mom's minivan," Myers said in a statement. "We do beer runs in Will Smith's four-story motor home."

Last year, Myers won the third-ever Generation Award,Myers won the third ever Generation Award, in recognition of his work in films like "Austin Powers," "Shrek" and "Wayne's World." Introduced by "Shrek" co-star Cameron Diaz, Myers provided one of the show's more memorable moments when he leapt onstage in a highly choreographed dance number.

He'll need to save a few of those moves for his performance June 1, given that the show, which is known for its spontaneous, irreverent comedy bits, is live for only the second time ever. And with movies like "Transformers," "I Am Legend" and "The Bourne Ultimatum" released within the last year — and eagerly awaited flicks "The Dark Knight," "Iron Man" and "Indiana Jones and the Kingdom of the Crystal Skulls" just around the corner — the event promises to attract a diverse and megawatt crowd of celebs all vying for a coveted Golden Popcorn.

Myers' appointment is the first of many major announcements to be made in the weeks leading up to the annual celebration, including nominees for Best Kiss, Best Villain, Best Fight and more.

Myers can next be seen as the title character in "The Love Guru," also starring Jessica Alba, Justin Timberlake and Verne Troyer. The film hits theaters June 20.

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