At the Academy Awards nominees luncheon Monday, Smith, who is nominated for Best Actor for his portrayal of Muhammad Ali in Ali, told reporters he was elated to be part of the "big dance."
The rapper/actor admitted, however, he'd feel more comfortable if this nomination were in the rap category at the Grammys. The four-time Grammy winner, who won the very first rap Grammy in 1988 (with DJ Jazzy Jeff), joked, "I'd feel like I have a much better shot."
Still, he went on to say, "I don't care who wins. I am completely honored to be in the company in this category."
At the awards show on Sunday, March 24, Smith will be up against fellow nominees Russell Crowe (A Beautiful Mind), Sean Penn (I Am Sam), Denzel Washington (Training Day) and Tom Wilkinson (In the Bedroom).