A mystery celebrity will be coming out of the closet on the cover of People on May 5 and lots of people are talking about who it's going to be. Well, it's time to toss out names and respective odds.

Here's what we know. Power publicist Howard Bragman (who also happens to be gay) announced that one of his celeb clients would be coming out of the closet on May 5. He says he even started booking the star on some talk shows—including The View—anonymously in preparation for the event. Everything is being kept pretty hush, hush but a few clues have surfaced. L.A. Weekly deduced that it was a musician because of a 2009 story in which Bragman—who helped Meredith Baxter(-Birney) and Sheryl Swoopes out of the closet—said he was working with a musician who will come out in 2010. Then a booking agents for a talk show slipped up and used a female pronoun to describe the celeb.

So it seems like it's going to be a female musician who is going to be busting down those closet doors (you've foiled us again, Anderson!). But if Bragman and company have kept it a secret this long, then this might be some misdirection to throw everyone off the scent. Here is some baseless speculation about who might be coming out—and the odds on whether or not it will actually be them.

What do you think? Good guesses? Head to the comments to weigh in. Also, can we get everyone to promise that every year on May 5 someone famous will come out? It will be like a new national holiday. It'll be like Lent for those who abide by the gospel of Us Weekly and E!.

Update: Is Shelby Lynne People's Big Gay Reveal? Probably!

Queen Latifah
 Why: This seems to be the popular choice. It's not like it's a big secret about what she does in her personal life, and her latest movie Just Wright opens May 14, so the publicity around her unsurprising affirmation would be great for the box office.
Why Not: The movie is a romantic comedy. (Common falls in love with her.) For someone to stay in the closet for so long, but then come out right before playing it straight on the screen seems sort of antithetical. Also, Latifah is more of a movies kinda gal these days than a musician and L.A. Weekly seems to know something we don't and says it's not her.
Odds: 10-1

Kellie Pickler
 Why: Here's a theory. The reason there's so much buzz in advance could be because the announcement in and of itself won't make that big of an impact. Bragman is orchestrating this and he's a PR veteran. If you get everyone talking about it ahead of time, the reveal will make it talk show worthy, even if it's like one of the girls from Pussycat Dolls that no one's ever heard of. Who would need such a giant media drum roll? How about an American Idol also-ran who hasn't necessarily burned up the charts and who just released a single in April that debuted at #53 on the country charts? Also, she hasn't been in a relationship with a man since her 2007 break up with hockey player Jordan Tootoo (that we know of). She was also a regular guest host on The View back in the day, so she has ties to the show and would probably want her first interview to be somewhere she feels comfortable. Also, her Wikipedia page mentions her life-long "friend" Summer Miller. Hmm...
Why Not: We've never even heard that she might be a lesbian before other than in some anoymous internet comments and we all know how reliable those are.
Odds: 25-1

JC Chasez
 Why: We've heard his name floated by more than one person; is he dusting off his rainbow flag for May 5? JC's career is in the need of some assistance and coming out is usually good for some added exposure once a star is past his prime (see his 'N SYNC bandmate Lance Bass, Clay Aiken, Sean Hayes). Also, what if the talk show booker who used the female pronoun was a gay man and when the question was posed, the booker just said, "I can't say, but she's going to be fierce!" If we're going to call any gay male singer a "she," it's gonna be JC. Right?
Why Not: That is one seriously lousy argument. Still, if the former boy bander doesn't come out on 5/5, there is really no good argument not to (except if he's, you know, straight).
Odds: 50-1

Kelly Clarkson
 Why: Her name has been bandied about a bit and there are persistent rumors that she's a lesbian. Usually where there's smoke, there's fire.
Why Not: But she came out as straight a little more than a year ago. To affirm her heterosexuality and then turn around and say she was lying to us all along would be a little bit odd and would piss off fans.
Odds: 100-1

Alicia Keys
 Why: Like Kelly Clarkson, people are always suggesting Alicia Keys is a lesbian. Is she? We have no clue.
Why Not: She already denied it to People once. Granted that was in 2003, but unless someone has some kind of smoking gun, we don't know why she'd change course now.
Odds: 150-1

Ellen Page
 Why: There seems to be something about famous ladies named Ellen, huh? Speculation about her orientation has been around for a bit and the "singer" tip might be to keep everyone from seriously considering an actress. She has Inception coming out in July, so this would be a big push.
Why Not: A Leonardo DiCaprio movie directed by Christopher Nolan doesn't need Ellen's lesbian confession to stoke interest! Also, we're sticking with lesbian musician for now. Your time will come, Ellen.
Odds: 200-1

Kevin Spacey
 Why: Then again, what if the info about the celeb being a female singer is wrong on both counts? If so, then it's time for Kevin. He has a few movies coming up that could use some attention, and his orientation is so public that it's almost shameful to keep hiding it.
Why Not: We have the sneaking suspicion that he's going to pull a Merv Griffin, dying gay, closeted, and alone.
Odds: 250-1

Melissa Etheridge
 Why: But she's already out, you say! Well, what if the big announcement is that she's not gay? She did just call it quits with her partner. Maybe she's straight?
Why Not: That's ludicrous. The only thing more thoroughly lesbian than Melissa Etheridge is playing softball in a mullet with a plaid uniform and Birkenstock cleats.
Odds: 1,000,000 to 1
[Images via Getty]