It may seem incredible, as Christmas is still a day plus some away, but next week is the end of the year. And what better way to spend New Year’s Day (while you’re undoubtedly packing away Christmas ornaments and dismantling the tree) than watching the 120th Tournament of Roses Parade?

Al Roker, the weatherman and feature reporter for NBC’s “Today,” and Nancy O’Dell, co-anchor of the daily entertainment news magazine show “Access Hollywood,” are reuniting for the eighth year to co-host NBC’s live, high-definition coverage of the “120th Tournament of Roses Parade” from Pasadena, California, on January 1 from 11 a.m. to 1:00 p.m. ET.

This will be Roker’s twelfth year hosting the popular annual event, and the tenth consecutive year for O’Dell.  NBC has been broadcasting the New Year’s Day parade for 82 years, beginning on radio in 1927 and then televising the event beginning in 1954.

With a 2009 theme of “Hats Off to Entertainment,” the parade will feature Emmy and Oscar-winning actress Cloris Leachman as this year’s Grand Marshal.  Leachman has been entertaining audiences for 60 years, most recently as a contestant on “Dancing with the Stars.” She is perhaps best known for her role as Phyllis on the “Mary Tyler Moore Show” and more recently, for her Emmy Award-winning role on “Malcolm in the Middle.” 

The most popular New Year’s Day celebration in the world, the parade will feature 46 lavish floral floats, 21 spectacular marching bands from as far away as England and Mexico, and 18 high-stepping equestrian teams. This year’s Rose Queen and her court will also appear, along with special guests on spectacular floats.

Float highlights this year include a 49-foot tall robot, a skateboarding bulldog, divers diving into a pool perched on top of a float, and beloved “Sesame Street” characters Big Bird, Elmo and Oscar as well as original “Sesame Street” cast member Bob McGrath, plus a float surrounded by 75 disco dancers and Alaska’s inaugural Rose Parade float celebrating the state’s 50-year anniversary.

The Pasadena police department estimates that at least 1 million spectators will line the five-and-a-half mile parade route.  Tens of millions of people worldwide watch the telecast every year.

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