Might Ellen DeGeneres's universally-lauded performance as host of the 53rd annual Primetime Emmy Awards earlier this month lead her to snag the granddaddy of all gigs — the Oscars? That's the buzz in Hollywood.

"Ellen did such a good job at the Emmys — even snaring that rare thing, a standing ovation from a cynical Hollywood crowd — that it's inevitable she's now considered a serious candidate," says Tom O'Neil, author of Movie Awards and host of award-predictions website GoldDerby.com. "It doesn't matter that she's not a movie biz insider. Johnny Carson did an ace job hosting the Oscars five times."

Oscar organizers aren't ruling the idea out — especially considering perennial emcee Billy Crystal has said he's in no rush to reclaim his position at the dais. (Last year's host, Steve Martin, is viewed as DeGeneres's chief competition.) "At this point, the only sure thing anybody can say is that, until she locks down a host, [producer Laura Ziskin] won't be ruling anybody out — or in," Oscar rep John Pavlik tells TV Guide Online.

Another sure thing: DeGeneres — whose CBS comedy just received a full-season order — would jump at the chance to serve as Oscar's golden girl. Confirms her spokesperson: "I'm sure if she was offered it, she'd do it in a second."