Looks like Penelope Cruz better start clearing room on her mantle. Already set to be lauded by the IFP at the Gotham Awards on Dec. 2, now comes word that the Spanish actress is to be honored as performer of the year by the Santa Barbara Film Festival on Jan. 31. In previous years, being feted by this fest 100 miles up the coast from Hollywood has proved to be a harbinger of landing at least an Academy Award nod.

Though last year's honoree Angelina Jolie was snubbed for "A Mighty Heart," in 2007 Helen Mirren added this award to the many she won for "The Queen." And while Heath Ledger (2006, "Brokeback Mountain") and Kate Winslet (2005, "Eternal Sunshine of the Spotless Mind") had to settle for just the honor of being nominated come Oscar night, back in 2004 Charlize Theron kicked off her successful campaign for "Monster" here.

Penelope Cruz, who lost her sole Oscar bid (for "Volver") to Mirren two years ago, has two contenders in this year's award derby. While she is a long shot in lead actress for the downbeat "Elegy," she is almost certain to score a supporting nod for showing her comic chops in "Vicky Cristina Barcelona."

Photo: Penelope Cruz in "Elegy"

Credit: Samuel Goldwyn Films