U2 are to perform at the Oscars next month.

The Irish rock band will perform their track 'Ordinary Love,' which is nominated for best Original Song, at the ceremony at the Dolby Theatre in Los Angeles on March 2.

The event's producers, Craig Zadan and Neil Meron, confirmed the news Wednesday (12.02.14) and said it will be the first time the band perform the song, which was written especially for the 'Mandela: Long Walk to Freedom' soundtrack, live.

The group - consisting of Bono, Larry Mullen, Adam Clayton and The Edge - face stiff competition in the Original Song category from Pharrell Williams for his hit 'Happy' from 'Despicable Me 2,' 'Let It Go' from 'Frozen', and 'The Moon Song' by Karen O, who is the vocalist for the Yeah Yeah Yeahs, from the movie 'Her'.

Pharrell, 40, confirmed earlier this month that he will also be taking to the stage at the 86th annual ceremony, which will be hosted by Ellen DeGeneres.

Meanwhile, Demi Lovato, who recorded the single version of 'Let It Go,' will not be singing at the Oscars as she is scheduled to perform her 'Neon Lights' tour in Fairfax, Virginia on March 2.

However, 'Frozen' star Idina Menzel sings the song in the movie and will perform the track instead.

The 42-year-old actress, who won a Tony Award for her portrayal of Elphaba in Broadway's 'Wicked' in 2004, shared her excitement with fans on Twitter on Tuesday (11.02.14), writing: ''It's really happening. I'm singing on the Oscars! Surreal. Thank u frozen family and Oscar producers for this incredible opportunity. (sic)''