MTV plans to edit out a shot of the rapper exposing his rear end to the audience at the 2004 Movie Awards when the show is broadcast Thursday at 9 p.m. EDT, a network representative confirmed Monday.

Eminem, who performed at the Saturday night taping with his group D12, appeared onstage dressed in a long red wig and jeans in a parody of Guns N' Roses singer Axl Rose.

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Full story.

Velvet Revolver mention at MTV.com:

This week, it's all about the comeback album — from performers who used to be in massively successful bands, and those returning after falling under or off the radar.

Contraband, the title of Velvet Revolver's debut album, will no doubt be the subject of many a bad joke about the habits of certain bandmembers (ex-Stone Temple Pilots singer Scott Weiland, three former members of Guns N' Roses and a former Wasted Youth). So we'll just say that Velvet Revolver releases Contraband this week.

Velvet Revolver articles:

Seattle:
Former members of two bad-boy bands make for one power-packed show
Velvet Revolver fires up fans

Velvet Revolver -- supergroup for new decade (Reuters)
Velvet Revolver: Cocked & loaded (USA Today)