Marc Malkin

Rena Durham/ZUMAPress.com, Paul Fenton/ZUMAPress.com, Eric Charbonneau/WireImage.com

It's five days till the Oscars, and I've got plenty to dish about the night's big musical performances, why I think it's time for Jennifer Lopez to add some much needed sparkle to the red carpet and where some of the biggest bold-faced names are being spotted.

Music of the Night:  Just call them the Dreamboys. As I first told you last week, Will Ferrell and Jack Black are not only presenting at the Oscars on Sunday, they're performing an original comedic song that should leave you laughing.

Now comes word their pal John C. Reilly will join them.

As I also reported, Academy Awards producer Laura Ziskin was hoping for Adam Sandler and Mel Brooks to participate. However, I'm now being told it doesn't look like that's going to happen.

In other Oscar music news, Ziskin announced just this morning that Beyoncé, Melissa Etheridge, Jennifer Hudson, Randy Newman, Keith Robinson, Anika Noni Rose and James Taylor are set to perform this year's Oscar-nominated songs.

I'm told the Dreamgirls number—a medley of all three of its nominated songs rather than separate performances for each—is being directed by the movie's director, Bill Condon. I hear Jamie Foxx may join them onstage. I don't want to spoil anything for you, but make sure you don't miss it. I'm told the end is, let's just say, heavenly.

Home Sweet Home:  Soho House's annual Los Angeles outpost for Oscar week is, as always, attracting quite the A-list. Just last night, my spies spotted Demi Moore and Ashton Kutcher having dinner with Penélope Cruz a few tables away from Paul Walker and some of his pals. Also walking around were Drew Barrymore, Jude Law and Rosario Dawson.

Crystal Clear:  Swarovski had its Los Angeles debut of the Runway Rocks fashion show last night at the Ace Gallery in Beverly Hills. It was something else. Styled by Sex and the City and The Devil Wears Prada's Patricia Field, models hit the runway in some of the most elaborate one-of-a-kind jewels I have ever seen.

I hope Sunday's celeb attendees will go to SwarovskiSparkles.com for inspiration. It's time to bring back some over-the-top originality—like Cher's legendary body-baring Bob Mackie dress she wore when she won an Oscar for Moonstruck—to red carpet fashions.

Call me crazy, but I'd love to see Ms. Lopez in Andrew Logan's fire-red headpiece from his creation called the Bride of the Elements.

Hot Wheels:  Audi is sure making its mark this Oscar season. The company's new R8 sports car will be auctioned at Elton John's annual viewing party benefiting his AIDS Foundation. It will be the first privately owned R8 in the U.S., because the cars won't be coming for a few months.