UPDATE: Our friends over at PopEater have officially debunked the story, receiving word from Tom Cruise's "people" that this simply isn't true and completely made up. You can go about your day now.

A few months ago, Anne Hathaway hosted "Saturday Night Live" and did a pretty spot-on impersonation of Katie Holmes. Now she's about to co-host the Oscars (with James Franco), and that means an allegedly embarrassed Holmes and husband Tom Cruise may not be attending the ceremony.

According to the Daily Mail (which is more tabloid than news, so do take this report as trashy gossip), the Cruises "don't want to cross paths" with Hathaway, a former friend of the couple who apparently dissed them bad by going on TV and making fun of Holmes.

Given how well Tom Cruise plays with his own image in the underrated "Knight & Day," and since he's become buddies with Ben Stiller, who does a great impression of the movie star, sometimes opposite the real deal, you'd think he would have a better sense of humor regarding parody.

Or, maybe he's only okay with self-parody? Perhaps he's more protective of his overly sensitive wife? But it's also the Academy Awards, where films and stars are made the butts of jokes -- maybe not as much as at the Golden Globes or a Comedy Central roast -- but also no less than what Hathaway did on "SNL."

And you know that if this story is true and the boycott happens, Hathaway and Franco will probably just go and do more Holmes and Cruise spoofs on the Kodak Theatre stage. Actually, there's probably not enough time for such an irrelevant routine.

Either way, if Cruise does not attend, it would be due to his shooting schedule, as a spokeperson for the actor claims. Plus the fact that he has no real reason to attend this year anyway since neither "Knight & Day" nor Holmes' own 2010 releases ("The Romantics" and "The Extra Man") will be nominated and he has nothing new to promote.

Here's Hathaway's Holmes impression, if you missed it back in November:



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