For all the festival lineup announcements made every year, no one is more exciting than that of Coachella‘s. This time tomorrow, we’ll know who will be alive and kicking this Summer, which acts from our wishlists earned themselves a trip to Indio this April 16-18, and which acts were nothing more than unfulfilled hopes and dreams. It’s a day of anticipation, joy, disappointment, and, most of all, a lack of sleep. Yep, a festival fan’s Christmas is here — it’s Coachella announcement day!

In mere hours, the lineup for the 2010 edition of the Coachella Music Festival will be unveiled for all to see. As we mentioned on Friday, the lineup will be released on KROQ radio tomorrow morning, but, based on the past history, expect a leak sometime after Midnight PST. We’ll of course have it for you as soon as it shows itself.

As for the latest pre-announcement buzz, according to several sources with knowledge of the festival’s plans, Muse will kick things off on Friday, Jay-Z will indeed be Saturday’s headliner, and Gorillaz will close out the festival on Sunday. Faith No More, Vampire Weekend, and Wilco are likely to be the major highlights, while Pavement and Soundgarden remain distinct possibilities to serve as this year’s reunited acts.

As for the some other names we expect to appear, these include:

Aeroplane, As Tall As Lions, Beach House, The Big Pink, Camera Obscura, Caravan Palace, Corinne Bailey Rae, Craze & Klever, Deerhunter, Devo, El Gran Silencio, Hockey, Hot Chip, Iglu & Hartly, Kevin Devine, LCD Soundsystem, Mayer Hawthrone, Miike Snow, Passion Pit, Phoenix, Porcupine Tree, The Raveonettes, Spoon, The xx, Yeasayer, Zoe

On the rumor front, Radiohead’s Thom Yorke and the electro outfit Orbital are two biggest names that could end up finding spots on the bill. The rest of the current rumors include:

The Avett Brothers, Bassnectar, Beastie Boys, Cornelius, The Cribs, The Dead Weather, Dirty Projectors, Echo & the Bunnymen, Imogen Heap, Major Lazer, Mew, Pretty Lights, RX Bandits, She & Him, Tiesto, Treasure Fingers, Underworld

We’ll provide updates on this post throughout the evening if and when any information becomes available. Also please feel free to use it to post any hopes, dreams, gripes, wishlists, and predictions. Buckle up, it’s going to be a wild night!

According to a source with knowledge of the festival’s plans, Muse will serve as a headliner for the Indio, CA event, set to take place from April 16-18. This will mark the British outfit’s first appearance at Coachella since 2004 and will come amidst what will likely be a summer chock-full of tour dates in support of the band’s most recent effort, The Resistance.

A separate source confirms that both Hot Chip and The xx will make room in their recently announced U.S. tour and also appear. These latest additions join Devo, Craze & Klever, and As Tall As Lions, all of which have been previously confirmed by other Internet outlets.

Keeping the fun going, Vampire Weekend, Phoenix, The Avett Brothers, and Pavement are all heavily rumored, while Tegan & Sara, Spacemen 3, Pretty Lights, Cornelious, and Imogen Heap are among the others currently appearing on our Coachella Outlook page.

An official lineup announcement is expected to come in late January. Buckle up… the fun is only getting started!