The 2011 Oscar nominees announcement brought the welcome news that actor James Franco earned a nod for his performance in the movie '127 Hours.' The multi-talented star is also likely to receive a Daytime Emmy this year for appearing as the demented artist/killer Franco on 'General Hospital.'

Which led us to wonder: Could Franco become first person to win the DEGOT -- Daytime Emmy, Emmy, Grammy, Oscar and Tony?

EGOT is a term coined 'Miami Vice's' Philip Michael Thomas; currently, 12 people hold an EGOT. And Whoopi Goldberg's "E" is actually a Daytime Emmy.

Franco is now an Oscar nominee, was previously an Emmy nominee for the 2001 TV movie 'James Dean,' and is a good bet to receive a Daytime Emmy nomination this year. He reportedly may star in a Broadway revival of Tennessee Williams' 'Sweet Bird of Youth.' And with his wide-ranging interest in fiction-writing and the arts, it's not such a leap to think a spoken-word album could be in Franco's future.

OK, so maybe we're doing a bit of wishful thinking here, but Franco's already defied expectations. Consider that he recently: began his Ph.D. studies at Yale; debuted a multimedia project called 'Three's Company the Drama' at the Sundance Film Festival; signed on to direct his first major film, 'The Night Stalker'; started planning a Yale student production; and has been circling projects as diverse as a Linda Lovelace biopic and an adaptation of William Faulkner's 'As I Lay Dying.'

Oh, and the actor returns to 'General Hospital' next month -- the week before he and Anne Hathaway co-host the 83rd annual Academy Awards on Feb. 27, 2011.

A DEGOT just might be a piece of cake.