By Francisco Salazar (staff@latinospost.com) | First Posted: Feb 13, 2014 12:24 AM EST

The Academy of Motion Picture Arts and Sciences has announced that U2 will perform at the Academy Awards.

The news comes a day after the Academy announced that Idina Menzel would also perform.

According to the press release, world-renowned rock band U2 will perform their Oscar nominated song, "Ordinary Love" from the movie "Mandela: Long Walk to Freedom." The performance will also mark the first time U2 performs the song live.

"Ordinary Love" was written by the group for "Mandela: Long Walk to Freedom" and is nominated for Original Song alongside "Happy" from "Despicable Me 2," "Let It Go" from "Frozen" and "The Moon Song" from "Her."

Three out of the four songs are already slated to be performed at the Oscars and based on the recent announcements, Karen O will most likely perform the "Moon Song" from "Her."

U2 has sold more than 150 million records worldwide since its formation in 1976. The group has won 22 Grammy Awards, more than any other band, and was inducted into the Rock and Roll Hall of Fame in 2005 in the band's first year of eligibility. The band's 110-show, 26-month-long "U2 360°" tour, which ended in July 2011, played to over 7 million fans in 30 countries on five continents and was the highest-grossing concert tour of all time. The band is currently in the studio working on a new album.

The Academy Awards will be presented on Sunday, March 2, 2014, at the Dolby Theatre at Hollywood & Highland Center and televised live on ABC. The show will be produced by Craig Zadan and Neil Meron, and will be hosted by Ellen DeGeneres.