Well, the dress has been found ... to be a fake!
The thief who took the gown says he took the dress from Lupita's room at The London after finding the door ajar.
[Image via WENN.]
We are seat-dancing with excitement!
Last year, the 22-year-old looked scorching hot in a simple red Calvin Klein gown that bared major cleavage, and was apparently very comfy. But this year, we're sure Raf Simons is cooking up something extra-special for the actress and face of Christian Dior.
"I have been thinking about it, we've got some sketches together, but nothing is decided yet. Last time was comfort. This year, I'm like, 'Suck it up, wear a corset'. I am going to go for fashion this time."
YES, girl!!! Please wear something FAB-ulous and AH-mazing and GLAWSOME!
And it's clear that JLaw herself wants to look SUPERCALIFRAGILISTICEXPIALIDOCIOUS because she might end up on stage collecting a little golden statue!
"That's the problem with the Oscars. They're always at the end where you are just exhausted from dressing up, so I never care. Now, I will. Fashion."
Check out some of Jen's recent red carpet looks in the gallery (below)!
[Image via Adriana M. Barraza/WENN.]