The MTV Movie Awards 2012 will take place Sunday, and it has been announced that rock legends Steven Tyler and Joe Perry of Aerosmith will be presenting Hollywood actor Johnny Depp with the prestigious Generation Award.

(Photo: REUTERS/Paul Hackett)Johnny Depp arrives for a premiere in London in this November 2011 file photo.

It appears as though MTV has chosen Tyler and Perry to present the award to Depp because they have been "chummy" with the actor for a long time. MTV has reported that the two rockers recently held an impromptu jam session at the after party for Depp's new movie "Dark Shadows."

MTV has also announced that it has organized for fellow rock band Black Keys to join in the festivities, and will be performing a "special rendition" of one of their biggest hits "Gold on the Ceiling."

The Generation Award has been described by MTV as: "the Movie Awards' highest honor, acknowledging an actor who can be counted on to engage the MTV audience with everything he or she does. Previous recipients include Reese Witherspoon, Sandra Bullock, Ben Stiller, Adam Sandler, Mike Myers, Tom Cruise and Jim Carrey."

Other stars expected to turn out at the MTV Movie Awards 2012 include Jessica Biel, Kate Beckinsale, Jodie Foster, Charlie Sheen, Emma Stone, Andrew Garfield, Kristen Stewart, Chris Hemsworth, Charlize Theron, Michael Fassbender, Mila Kunis and Mark Wahlberg.

"Bridesmaids" and "The Hunger Games" are leading by way of nominations, each listed in eight categories. Close behind are "Harry Potter and the Deathly Hallows, Part 2" and " 21 Jump Street," which were both listed in six categories.