Credit: Rick Diamond/Getty Images Photo: Taylor Swift

Big news: Fox just announced that country-pop megastar Taylor Swift will receive the Ultimate Choice Award during Teen Choice 2011. As you may be able to guess from the world "Ultimate," this is the highest honor at the Teen Choice Awards. Yo, Taylor, we're really happy for you!  

In the past, this award has gone to the likes of Justin Timberlake, Britney Spears, Reese Witherspoon, and tennis stars Venus and Serena Williams. Not a shabby group to join, especially since Taylor, 21, is practically a teen herself. The award should look nice on the shelf next to her four Grammys.

Tune in to Fox on Sunday, August 7, 6:30pm ET/3:30pm PT to see Taylor receive the honor live. Don't forget to vote every day for your favorite stars and shows.

And be sure to follow Wetpaint Entertainment's continuing coverage of the Teen Choice Awards 2011!