Michael Douglas is skipping the Oscars on Sunday. The 68-year-old actor has decided not to accompany his wife Catherine Zeta-Jones to the ceremony at the Dolby Theatre in Hollywood in favor of staying home with their children Carys, nine, and Dylan, 12.

A source close to the Side Effects actress, 43, told RadarOnline.com, "Catherine is attending the Academy Awards with a family member, as Michael just doesn't feel like going. Michael will stay at home with son Dylan and daughter Carys, while Catherine will attend the ceremony and the after parties with her pal. He has been very busy of late, promoting his forthcoming biopic Liberace, as well as ringing the closing bell at the New York Stock Exchange. But Catherine looks forward to the Oscars every year. She loves the glitz and glamour of the event and wouldn't miss it for the world."

The Wall Street: Money Never Sleeps star - who has been married to the Welsh actress for 12 years - recently admitted he thinks she is "more beautiful than ever." He said, "Catherine and I are doing well. She is more beautiful than ever inside and out. I support her with everything and she is simply the best."