Could Billy Crystal host the Academy Awards again? It's a possibility.

Billy Crystal, back on the Oscar stage. (AP)

When Billy Crystal made his appearance during this year's Academy Awards, he got a standing ovation. Clearly, his Hollywood colleagues love to see him grace that stage, a place where he feels very much at home. (Certainly, it must be said, more at home than James Franco often seemed last night.)

So is there a chance he could host again?

Based on what Crystal told me last night at the Governor's Ball, it's also not entirely out of the question.

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When asked whether the standing ovation surprised him, he quipped, "It was in the bag."

Then he got serious and added, "No, I was very moved by it," adding that it felt great to be back on that stage again.

When asked if hosting again is a possibility, he paused, then said it was something he would consider if he could "do something new" and really reinvent the broadcast's template again.

"I've done it eight times; what else do I have to say?" he added.

In other words, the producers of next year's Academy Awards will have to get super-innovative if they want to persuade Crystal to come back. But last night, basking in the glow of that warm onstage welcome, it sounded like there could be room to persuade him.