SXSW hearts Lou Reed -- Oscar doesn't

Lou Reed's fine guitar scorcher "Gravity" did not make the shortlist for Oscar's Best Original Song, but the former leader of the Velvet Underground will be talking film at next year's South by Southwest music conference in Austin, Texas.

Reed will give the keynote at the March 12-16 conference, and screen Julian Schnabel's film "Lou Reed's Berlin." "The Diving Bell and the Butterfly" director filmed Reed performing the landmark work over five nights in Brooklyn last year.

In addition to Reed, Seymour Stein, the president of the original label-home to Madonna and the Ramones, Sire Records (current acts: Against Me!, Tegan & Sara), will be the subject of an interview, as will Ticketmaster CEO Sean Moriarty and Sonic Youth's Thurston Moore, among others.

And those who haven't heard Reed's "Gravity" from the documentary "Nanking" should go here and listen to a snippet.

(Photo courtesy Los Angeles Times)