Toasting Obama: Courteney & Jen Celebrate in L.A., Oprah's On Hand in Chicago

Courteney Cox and David Arquette host Obama victory party in SoCal; Oprah Winfrey gets misty-eyed watching Obama's victory speech

While Oprah Winfrey opted for the live version, a couple of Friends got together to watch their guy win it all via satellite.

E! News has learned that Courteney Cox and hubby David Arquette hosted a Barack Obama victory party Tuesday night at their Beverly Hills home.

Sources say that Jennifer Aniston, Sacha Baron Cohen and Isla Fisher were among those in attendance, and that the Cristal was flowing liberally (pardon the pun) as Arquette made the rounds with his guests.

"David was in such a good mood, he walked outside his gate and poured champagne for the paparazzi," one insider said.

John Mayerwasn't among the revelers as of 10:30 p.m., but the night is still young. 

Miles away in Chicago, meanwhile, the party was just getting started, as Obama addressed thousands of supporters gathered along the city's waterfront.

Leaning on an unidentified gentleman's shoulder was a visibly emotional Winfrey, who told a local radio station this morning that she already had her gown for Obama's inauguration ball all picked out.

And now, she can cut off the tags.