2014 Palm Spring Film Festivals Highlights: Julia Roberts, Sandra Bullock, Tom Hanks

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Hollywood heavyweights are in attendance at the Awards Gala at the 25th annual Palm Spring International Film Festival on Saturday, Jan. 4 at the convention center in Palm Springs, Calif. Sandra Bullock, Julia Roberts, Meryl Streep and Tom Hanks worked the red carpet that signals the beginning of Hollywood's award season.

"(The festival) has a dual purpose really," says Tom Hanks in an interview with USA TODAY. "It's the end of the holidays and the true beginning of the trophy run season. And the truth is, you're lucky if you get invited."

"August: Osage County" star Meryl Streep attends the event with her co-star Margo Martindale and were caught taking selfies with their phone. Streep was the recipient of the Icon Award for her successful career in the business.

Another star of the movie, Julia Roberts is looking fabulously hot in a Gucci dress, a Roger Vivier Clutch and Wilfredo Rosado ring. The 46-year-old actress wears her hair in front of her eye as she accepts the Spotlight Award for her work. Roberts hit the stage twice as she presents Tom Hanks the Chairman's Awards for his performances in "Captain Philips" and "Saving Mr. Banks."

"Gravity" star Sandra Bullock is pretty oink as she receives the Desert Palm Achievement Award for her box office hit movie. The 49-year-old star wears an Alex Perry dress, Brian Atwood shoes and Jimmy Choo purse.

"American Hustle" star Bradley Cooper looks dapper on the red carpet and took time to meet fans waiting outside the event venue. He was spotted snapping a selfie with one lucky female fan; he was with his castmates (Amy Adams and Jeremy Renner) as they accept the Ensemble Performance Award.

"Wolf of Wall Street" star Matthew McConaughey is also in attendance including Bruce Dern, Chiwetel Ejiofor, Steve Coogan and Idris Elba. McConaughey was wearing a flashy gold Saint Laurent jacket when he accepted the Dessert Palm Achievement Award.

"It's where you are when you chose it. If it's Sunday morning and you're having a cup of tea, you chose something more conservative. This was chosen on a Saturday night after some salsa dancing," says Matthew in an interview with USA TODAY.

U2 frontman Bono also hit the red carpet for Golden Globe nominated song "Ordinary Love" from "Mandela: Long Walk to Freedom."

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