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James Franco's Charlie Sheen Crack; Anne Hathaway's Anti-Hugh Jackman Musical Number

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Feb. 28 2011, Published 9:54 a.m. ET

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The moment everyone was waiting for arrived one hour into last night's Oscars broadcast — a Charlie Sheen joke!  It was James Franco who made the highly-anticipated jab, following co-host, Anne Hathaway's own little roast of  former Oscar host and one-time singing partner Hugh Jackman.

Anne took to the stage solo, wearing a custom made Lanvin tuxedo and to-die-for Brian Atwood pumps, and embarked on the sole musical number of the evening (to the dismay of many).

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Anne belted out a tune (quite well) to the melody of "On My Own" from Les Miserables, a little jab at Hugh who she apparently wanted to do a duet with during the show and who she performed on stage with at the 81st Annual Academy Awards in 2009.

"There's a tradition of singing at the Oscars," Anne addressed the crowd. "One that I was lucky enough to take part in two years ago. And this year I wanted to do a duet again with a special guest, but he bailed on me at the last minute and I couldn't do it. But I'm not a quitter, so this is the best I could do under the circumstances."

Then Anne continued to make jabs at her former Oscars pal: "On my own/ 'Cause someone's a huge jackass/ I won't say who/ Thought Australians were our allies/ It turns out Down Under's kinda shady/ Not you, Nicole, or not any other Aussie but just one/ Who shall not be named."

"He stuck his fake retractable claws/ Into my heart," she continued, and as the cameras panned to Hugh, he was laughing with his head in his hands. "When he left me on my own."

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At the end of Anne's song, James walked onstage dressed in drag (something not new for the star) as Marilyn Monroe circa "Diamonds are a Girl's Best Friend."

"You got to wear a tuxedo," he quipped with Anne. "So I wore this. Weird part is I just got a text message from Charlie Sheen."

The roar from the crowd was palpable after the Sheen crack, in perhaps their best co-hosting skit of the evening.

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They then welcomed Arthur co-stars Russell Brand and Helen Mirren on stage, who presented the Best Foreign Language Film prize to "In a Better World" (Denmark).

OK! GALLERY: OSCARS BEST DRESSED 2011: ANNE HATHAWAY DELIVERS EIGHT FASHION-FORWARD LOOKS

Catch the clip, via MTV, below! What did you think of the musical number? Share your thoughts in the comments.

Movie Trailers - Movies Blog

Hugh and Anne perform a duet during the opening at the 81st Annual Academy Awards in 2009!

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