Coming together for a fabulous night filled with fashion, Hollywood's biggest stars are preparing for their red carpet arrivals at the 2013 2013 Costume Institute Gala in New York City this evening (May 6).

Everyone from Beyonce Knowles to Kristen Stewart are expected to bring their designer duds to the Big Apple event, hosted by the Metropolitan Museum of Art.

With co-chairs Rooney Mara, Lauren Santo Domingo, Riccardo Tisci, and Anna Wintour, the Costume Gala is poised to be the brightest so far.

Of the “PUNK: Chaos to Couture” theme, Metropolitan Museum of Art Director and CEO Thomas P. Campbell told press, “Punk’s signature mixing of references was fueled by artistic developments such as Dada and postmodernism, so it makes sense to present this exhibition in a museum that also shows the broader output of those movements. Indeed, that dialogue between art and fashion is what makes The Costume Institute so singular. Projects like this don’t happen without sponsorship, and we greatly appreciate the generosity of Moda Operandi, and its co-founders Aslaug Magnusdottir and Lauren Santo Domingo.”

Check out the live red carpet stream below!