Los Angeles: Hollywood actor James Franco hopes to hook up with Oscar co-host Anne Hathaway.

Though Franco, initially turned down the offer, agreed to host the Oscars after he came to know that Hathaway would be his co-host for the glitzy ceremony to be held on February 27.

When Robin Roberts, host of US morning show Good Morning America, commented on the couple's chemistry the actor, who is also nominated in the Best Actor category for '127 Hours', said, "Well I'd admired her from afar for many years.

"One of the reasons I was excited about Anne hosting was well I thought maybe I had a shot but then I realized there is a boyfriend around so those dreams have been shot."

Franco, 32, tweeted a video of him and Hathaway rehearsing a dance routine from the musical 'Grease' this week dressed up as the lead characters Sandy and Danny.

The two hosts will reportedly make a mammoth five wardrobe changes throughout the night and their opening act will consist of the two stars acting out scenes from all 10 nominated films.