UPDATE: Us Weekly is claiming that Britney has pulled out of the show and has not specified a reason. Is the honeymoon period over for these two? Did Britney wise up to her new friend and fading image? Or is it simply that Britney can't make it due to a prior obligation? Britney Spears and Paris Hilton have agreed to co-host next week's Billboard Music Awards in Las Vegas according to People Magazine. I guess this explains the newly formed friendship between these two stars and the need to get into partying shape by staying out all night, every night. While there are no plans for either to perform, the pair are sure to wow us with their vapid sense of humor, incessant gum chewing, and inability to read from the teleprompter. The 2006 Billboard Music Awards will air live on FOX Monday at 8 p.m. ET from Las Vegas’s MGM Grand Garden Arena so make sure to set your DVR's for this train wreck. Picture by Cliff and Malia Sobel