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.