Last night comedian Chelsea Handler announced on her E! late night show Chelsea Lately that she will be the host of the 2010 MTV Video Music Awards.  But why Handler?  She explains, “This has been a huge year for hip-hop and rap, and it is well-known that I have the closest ties with these communities — musically and sexually.  I am to rap and hippity-hop, what Warren Buffet is to finance, minus the sex.”  Yup, that’s Chelsea.  Fun fact: She is first female to host the awards show since 1994.  With expected performances from Kanye West, Justin Bieber (eh), Drake, Jay Sean, B.o.B, and Florence + The Machine, this year’s VMAs should be memorable in just the right way.  The VMAs airs live from the Nokia Theatre in LA September 12.  Check out this year’s nominees!  Look after the break to watch Chelsea make the exciting announcement.

[Via EW-Popwatch]