An estimated 150 Academy Award nominees gathered for the annual luncheon held in their honor at the Beverly Hills Hotel on Monday, but it was Best Actor noms George Clooney and Brad Pitt who stole the show!

Clooney, who looked dapper in a dark silver suit, is expected to win the Best Actor nod for his role in The Descendants, but he says his favorite part of awards season is getting to hang out with old friends.

"A lot of people at home think we all hang out together. I think they think we're always at the Hilton drinking champagne. The truth is I hadn't seen Brad in about a year" Clooney told reports at the luncheon. "So it's fun to catch up, and it's fun to see people I like and haven't seen in a long time."

The Moneyball star also joked with reporters of his old pal, saying, "I met this guy named George. G-g-george, Jorge Clooney. Very nice guy. Very personable and very nice guy."

Meanwhile, Best Actress nominee Michelle Williams looked pretty and sweet in a 60's-inspired shift dress from Victoria Beckham's new line, "Victoria," which perfectly complimented her cute pixie 'do.

She's already won the Golden Globe, but wIll Michelle take home the Oscar for My Week With Marilyn?

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Marilyn Monroe would be proud!

Michelle Williams looked red hot in a classic lace Valentino gown paired with Roger Vivier “Cage” sandals, a Lanvin clutch, and Fred Leighton jewels, as she stepped onto the red carpet at the 18th annual SAG Awards, on Sunday.

The actress is nominated for Outstanding Performance by a Female Actor in a Leading Role for her work in My Week With Marilyn, but she lost out to Viola Davis for her role in The Help, at tonight's awards show.

Williams was honored with a Golden Globe this year for her captivating transformation as Marilyn Monroe, so there's still a chance for Oscar gold!

Michelle Williams has come a long way from her Dawson's Creek days, and she's proving it in the pages of February's GQ magazine.

The My Week With Marilyn starlet, who just took home the Golden Globes for her role as Marilyn Monroe, tells them mag:

"I wouldn't say that that would be one of my first qualities as a human being -- being sexy. And I think because my character on Dawson's Creek was sexy...sexualized...sexual...I saw all the negative attention and connotations that can come along with that. And that those things can keep people from seeing you clearly. When you play sexy you're kind of playing just for men. That is something you have to police and turn it on its head."

Williams also opens up about life after Heath Ledger ... who passed away in January 2008. She adds, "I really wanted, and I really expected or imagined, that Matilda would have siblings that were close to her age. I wanted that for her. But I couldn't make that happen."

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Congrats Michelle!

The Oscar-nominated actress took home a Best Actress award for her role as the late Ms. Monroe in My Week with Marilyn.

Williams, who donned a beautiful blue, velvet-embellished gown by Jason Wu, confessed during her acceptance speech:

"I consider myself a mother first and an actress second, and so the person I most want to thank is my daughter, my little girl, whose bravery and exuberance is the example that I take with me in my work and in my life."

Matilda Ledger is also the daughter of late actor Heath, and she was just two years old when he died suddenly in 2008.

The star also made sure to thank the Hollywood Foreign Press Association for honoring her with the same Award that Monroe had won "more than 50 years ago."

Michelle Williams exited Beverly Hills restaurant Cecconi's looking noticeably thinner in a striped sweater, knee-length skirt and nude heels, on Tuesday afternoon -- is she beginning to feel the stress of awards season?

Williams' starring role as Marilyn Monroe in My Week with Marilyn has not only earned her a Golden Globe nod, and the Desert Palm Achievement Award at the Palm Springs International Film Fest last weekend, she might even bag the Oscar this year!

The actress was nominated for Best Supporting Actress for her role in Broke Back Mountain in 2005, but lost out to Rachel Weisz for her role in Constant Gardner. Will Michelle become the first Dawson's Creek star to take home an Academy Award?

This performance has "Oscar Winner" written all over it!

Transforming herself into one of the most iconic movie stars of all time, Michelle Williams flawlessly nails Marilyn Monroe as she performs “Heatwave” in the upcoming biopic, My Week With Marilyn.

While the two-time Oscar nominee was hesitant to take on such a larger than life role, Williams tells Vogue, "I've never been so hanging on a cliff waiting to hear what people think of a movie. I think after the second day, I told them they had to take away my passport because I was a flight risk."

Check out another just-released clip from My Week With Marilyn, which hits theaters November 23, after the jump ...

Michelle Williams, 31, looked lovely in canary yellow on Monday night.

The actress had just received an award at the 2011 Hollywood Film Awards for her work on My Week With Marilyn, the Marilyn Monroe biopic that's already getting her Oscar buzz.

She changed out of her evening gown into this cute yellow lace getup for a night out with her longtime BFF, former Dawson's Creek co-star Busy Phillips.

Michelle Williams is already getting Oscar buzz for her role as Marilyn Monroe in My Week With Marilyn, and now we can see why!

Check out the first trailer for the flick about the icon above. Do you think Michelle pulls off Marilyn?