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!

So far, there is one confirmation, Mexican alternative band Zoé, while Pavement, Pretty Lights, and The Raveonettes all are heavily rumored. There is also speculation that Thom Yorke and Jack White will appear, but in what form — Radiohead vs. solo; The Dead Weather vs. White Stripes vs. solo — remains unclear. As always, stay tuned to our Coachella Outlook page for all the latest confirmations and rumors.

In semi-related news, Coachella’s sister festival, the country-oriented Stagecoach Music Festival, unveiled its 2010 bill today. Among the highlights to appear at the festival, which takes place from April 24-25, 2010 in Indio, CA, are Keith Urban, Toby Keith, Brooks & Dunn, Sugarland, Phil Vassar, Merle Haggard, and The Avett Brothers. Tickets will go on sale beginning Friday, October 16th via Ticketmaster.com.