Both movies are up for Best Film, alongside The Artist, The Descendants, The Help, Hugo, Moneyball, Midnight in Paris, Shame and Tinker Tailor Soldier Spy while Drive's Ryan Gosling and Albert Brooks are among the nominees for Best Actor and Best Supporting Actor respectively.
Competing with Gosling for the Best Actor trophy will be George Clooney (The Descendants), Leonardo DiCaprio (J. Edgar), Michael Fassbender (Shame), Brendon Gleeson (The Guard), Tom Hardy (Warrior), Woody Harrelson (Rampart), Gary Oldman (Tinker Tailor Soldier Spy), Brad Pitt (Moneyball) and Michael Shannon (Take Shelter).
The Best Actress prize will be a fight between Olivia Colman (Tyrannosaur), Glenn Close (Albert Nobbs), Viola Davis (The Help), Vera Farmiga (Higher Ground), Elizabeth Olsen (Martha Marcy May Marlene), Meryl Streep (The Iron Lady), Charlize Theron (Young Adult), Emily Watson (Oranges & Sunshine), Michelle Williams (My Week With Marilyn) and Michelle Yeoh (The Lady).
The Descendants, Shame and The Artist each have six nominations, while The Help and Hugo have five apiece.
Leading the Satellite's TV nominations are dramas Justified, Downton Abbey and Mildred Pierce with four nominations each.
Downton Abbey and Mildred Pierce will compete with Cinema Verite, Page Eight, Thurgood and Too Big To Fail for the Best Miniseries/Motion Picture Made for Television gong, while Justified will battle with Breaking Bad, Boardwalk Empire, Friday Night Lights, Sons of Anarchy and Treme for the Best Television Series, Drama prize.
The Big C, Community, Episodes, It's Always Sunny in Philadelphia, Louis and Modern Family will compete for Best Television Series, Comedy or Musical.
Special Achievement Awards will be handed out to Mitzi Gaynor (Mary Pickford Award), Peter Bogdanovich (Auteur Award), late filmmaker and photojournalist Tim Hetherington (Humanitarian Award), Jessica Lange (Outstanding Performance in a TV Series for American Horror Story), the cast of The Help (Best Ensemble) and Paddy Considine (Best First Feature for Tyrannosaur).
The 16th annual Satellite Awards will be held on 18 December (11) at the Beverly Hills Hotel.