Oscars Red Carpet 2013: Watch LIVE

The day has finally arrived. The 85th annual Academy Awards kick off tonight, and the star-studded event is sure to be exciting, with plenty of laughter and tears (happy and sad), winners and losers, and inspiring performances and speeches. Though the awards ceremony, hosted by Seth McFarlane, does not officially start until 8:30 p.m. EST on ABC, viewers can start watching red carpet coverage as early as 5:30 p.m. EST on E!, where Ryan Seacrest and Giuliana Rancic will interview celebs and have their usual awkward banter. I'm personally looking forward to seeing the trainwreck of a dress Giuliana will be wearing. Here's to hoping she redeems herself after her Golden Globes pick, but I think she can really only go up from that.

At 6 p.m., Chris Harrison will host the TV Guide Network's red carpet coverage, and ABC's preshow starts at 7 p.m. with a slew of celebrity reporters, such as Kristin Chenoweth, Kelly Rowland, "Entertainment Weekly’s" Jess Cagle, and “Good Morning America’s” Lara Spencer.

Watch the live stream here.