Britney & Paris To Host Billboard Music Awards

New best friends Britney Spears and Paris Hilton are taking their act onstage: The pair will co-host next week's Billboard Music Awards in Las Vegas, a source confirms to PEOPLE. "There are no plans for either to perform, but they will host the event together," says a show source. "They’ll be fun onstage together."

Among those performing will be Janet Jackson – who will open the show – Gwen Stefani, Mary J. Blige, Ludacris, and the Fray. Carrie Underwood, Carmen Electra, Dave Navarro, Vanessa Minnillo, and Katharine McPhee are among the celebs making special appearances.

Finalists are expected to be announced shortly. The 2006 Billboard Music Awards will air live on FOX Monday at 8 p.m. ET from Las Vegas’s MGM Grand Garden Arena. Spears, who turns 25 on Saturday, is quickly establishing Las Vegas as her second home: She's also confirmed to host a New Year's Eve party at Pure Nightclub, a club spokesperson confirmed to PEOPLE Tuesday.

It's also the city where she and Hilton first forged their newfound friendship. Earlier this month, the pair met up and partied in Las Vegas, before doing more club-hopping in Los Angeles over Thanksgiving weekend.

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