Prince: I Didn't Know I Was Throwing an Oscar Party!

The singer was in the middle of band rehearsals when he saw a story that claimed he was throwing "the Oscar bash of the century."

Take a look back at some of the most memorable moments in Oscars history.

The musician finally decided to host an Academy Awards bash after Marion Cotillard -- who won last year's Oscar for Bestt Actress for her portrayal of a French singer in La Vie en Rose -- called to RSVP to "the Purple Party."

See photos from the last year's Academy Award after-parties.

Not only will Prince host, but he will also be allowing a film crew to record the whole event for release on his upcoming website, LotusFlow3r.com.

The party will take place after the awards ceremony this Sunday.

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