Rapper and actor LL Cool J has signed on to host the 38th NAACP Image Awards which will be broadcast live from Los Angeles at 8:00 pm EST, March 2 on the FOX network. "We are pleased and honored to have LL Cool J host our first live telecast," said Vicangelo Bulluck, executive producer of the Awards. "His humor, intelligence and incredible talent will make the awards an exciting evening to remember." During the show, U2 frontman Bono will be presented with the NAACP Chairman's Award for his humanitarian efforts and Bill Cosby will be inducted into the Image Awards Hall of Fame. CNN anchor Soledad O'Brien will also be receiving the President's Award. This years nominees include Lupe Fiasco, Jay-Z, Outkast and The Roots.