Will Ferrell awarded Mark Twain humor prize

(CBS/AP) Will Ferrell has been known for  his many impersonations including George W. Bush on "Saturday Night Live" and for several of his laugh-out-loud movies. Now, he'll also  be known as the 2011 recipient of  the nation's top humor prize from the Kennedy Center in Washington.

The 14th annual Mark Twain Prize of American Humor was announced on Thursday. Ferrell will be honored on Oct. 23 with a lineup of star comedy performances.

The 43- year-old actor said in a written statement that he is honored and will begin cultivating a "Mark Twain-esque mustache" for the event.

The actor starred on seven seasons of "Saturday Night Live" and in 2007, he created the website FunnyorDie.com with collaborator Adam McKay. Ferrell has also been on Broadway and starred in films such as "Old School," "Zoolander" and "Anchorman: The Legend of Ron Burgundy." It was reported earlier this month that there may be a sequel to "Anchorman."

Former honorees have included Tina Fey, Bill Cosby and Steve Martin.