If you spot someone sporting a red nose today, they're doing it for a good cause. Since 1988, Comic Relief has organized Red Nose Day to raise money for underprivileged children through the power of entertainment.

Last year marked the first time the "seriously silly" event aired in the U.S, and an impressive list of celebrities came out to show their support. This year, you can expect to see an even more star-studded lineup—Celine Dion, Bono, Ellen DeGeneres, Will Ferrell, and Key & Peele are just a handful of the 65 big-name stars slated to participate in the two-hour television event.

As guest stars crack jokes and put on live musical performances, viewers will be encouraged to donate money to the cause. The funds that are raised go to charities like Save the Children, The Global Fund, and the Boys & Girls Clubs of America that are focused on helping children both in our country and around the world.

The live event airs tonight at 9 p.m. EST on NBC. If you're looking for another way to join the fun, you can purchase a red nose of your own from Walgreens with all proceeds going to the cause. In the meantime, check out some highlights from last year's broadcast below.