U2 Elevated into Rock Hall

U2 may have found what they're looking for...immortality.

After a quarter-century of pushing musical boundaries in an everlasting bid to lay claim to the title of world's most important rock band, the Irish quartet was inducted Monday night into the Rock and Roll Hall of Fame.

U2 was feted by Bruce Springsteen, who returned the favor after Bono enshrined him with glowing praise in 1999.

"This was a band that wanted to lay claim to this world--and the next one, too. They are the keepers of some of the most beautiful sonic architecture in rock 'n' roll," the Boss said in a stirring tribute that wasn't above noting how the "young Bono single-handedly pioneering the Irish mullet."

According to "good-looking" member, drummer Larry Mullen Jr., the moment may have come a bit too soon, since the band formed when the members were just teenagers and are only just now reaching middle-age, unlike some of the night's more elderly inductees.

"We really appreciate this. It's very special," said Mullen. "I feel like we cut the line or jumped the queue along the way."

The newly minted Rock and Roll Hall of Famers capped off the evening with a four-song set beginning with "Until the End of the World," "Pride (In the Name of Love)" and "I Still Haven't Found What I'm Looking For," during which Bono traded vocals with Springsteen. U2 wrapped things up with a raucous version of the band's latest hit, "Vertigo," which brought the ballroom crowd to its feet.

Backstage, Bono also took a moment to address his Nobel Peace Prize nomination and laugh off those rumors that he's on the short list to run the World Bank.

"I'm just having the best life anyone's ever been given just being in a rock 'n roll band," said Bono, who called his day job the "cream of the cake."

Monday's ceremony at New York's Waldorf Astoria Hotel--which also happened to be the 20th anniversary of the annual Hall of Fame dinner party/concert--also featured the enshrinement of the Pretenders, led by no-nonsense singer-guitarist Chrissie Hynde, blues guitar god Buddy Guy, R&B crooner Percy Sledge of "When a Man Loves a Woman" fame and Philadelphia soulsters the O'Jays.

For the Pretenders, who managed to carry on despite the overdose deaths of two of the group's original members early in the band's career, the honor was bittersweet.

"We are a tribute band," Ohio native Hynde said after being inducted by Neil Young. "We're paying tribute to James Honeyman-Scott and Pete Farndon, without whom we would not have been here."

The Pretenders, whose catalog of hits includes "Back on the Chain Gang," "Middle of the Road" and "Brass in Pocket," played a three-song set of "Message of Love," "My City Was Gone"(with an assist from Young) and "Precious."

Chicago blues purveyor Buddy Guy, often cited as Jimi Hendrix's biggest influence, was celebrated by old pals B.B. King and Eric Clapton. The three then combined guitars for an extended blues jam.

The O'Jays, whose signature song, "For the Love of Money," can be heard each week as the lead-in to NBC's The Apprentice, performed a medley of their greatest, including "Back Stabbers" and "Love Train." Justin Timberlake did the induction honors for the group, which was founded in Ohio before moving to Philly to usher in the soul sound of the 1970s.

Percy Sledge, the silky smooth balladeer best known for "When a Man Loves a Woman," was intro'd by Rod Stewart and then proceeded to perform--yes--"When A Man Loves a Woman."

Honored in the non-performer category were Frank Barsalona, for his role in creating the first notable rock 'n' roll booking agency, and Seymour Stein, the music executive who founded the legendary Sire Records, home to such acts as the Ramones, Talking Heads, Depeche Mode and Madonna.

While the Rock Hall's annual shindig eschewed the traditional evening-ending all-star jam session, it had plenty to fill the highlight reel. Among the night's most captivating moments: a performance featuring Clapton, Robbie Robertson and Bo Diddley that was followed by 69-years-young Jerry Lee Lewis rocking out on "Whole Lotta Shakin' Goin' On."

VH1 is scheduled to air an edited version of the nearly five-hour-long induction ceremony this Saturday.