*This Saturday, Diddy will be honored with the Player’s Lifetime Achievement Award at the 33rd annual Players Ball in Los Angeles.

The event will also serve as the birthday bash of the legendary pimp of pimps Bishop Don “Magic” Juan. Guess who will be on the turn-tables at the event? Snoop Dogg himself.

Too Short will also be making an appearance on stage. In addition to honoring Diddy, the Player of the Year awards will also celebrate the Pimp of the Year, Pimp Jo Jo, and Hardest Working Player of the Year, Snoop Dogg, whose Serious Pimp Enterprises clothing and sunglasses company will be sponsoring the event.

“Snoop Dogg is inviting all of Hollywood ‘s elite to party with Bishop Don Magic Juan on his birthday and celebrate the Serious Pimp swagger, attitude and lifestyle,” revealed Serious Pimp Founder Damian Kutzner. “This will be Snoop Dogg’s first time as a DJ, so we’re sure the Players Ball will be a huge success this year in the glamorous heart of Tinsel Town.”

In other Snoop news, he is set to perform for Prince William’s engagement party. He’s so excited about the event that he decided to release a song in his honor called, “Wet” via SnoopDogg.com.

“When I heard the royal family wanted to have me perform in celebration of Prince William’s marriage, I knew I had to give them a little something,” said Snoop Dogg in a statement. “Wet’ is the perfect anthem for Prince William or any playa to get the club smoking.”

“Wet” is also a song featured on his upcoming album, “Doggumentary Music,” which will be in stores March 2011.