There's already been bucket loads of speculation about exactly who will be selected, with news sites and Eurovision blogs around the world trying their best to guess who will our first-ever official entrant.
I thought I'd run through the likely (and not-so-likely) contenders:
Kylie Minogue
Well, this would obviously be the ultimate. Kylie's an internationally recognised performer whose fanbase pretty much perfectly matches up with that of Eurovision. Imagine her belting out a fab disco stomper with some scantily clad male backing dancers = Eurovision perfection. Plus, she's appearing on reality shows these days, so shouldn't see Eurovision as beneath her. However, there is a note of caution - when massive popstars from the 80s reappear at Eurovision decades later it can go terribly wrong. Case in point: Bonnie Tyler for the UK in 2013.
Tina Arena
Another solid choice. Tina's got a dedicated international following, and is massive in France - so we could definitely count on a few votes coming our way from the Francophile audience. However, given that her stardom has been on the wane for a long time back home, her selection wouldn't be fresh or exciting, which is probably what SBS will be looking for in their choice.
The Wiggles
Anthony Wiggle put his hand up on Twitter on behalf of the be-skivvied quartet. And as they are pretty well-known internationally, it could be an inspired selection - provided they featured the original lineup (including Jeff!) and Captain Feathersword to amp up the camp factor. But it wouldn't be very groundbreaking on the Eurovision stage - just last year we had Iceland's Scandi-Wiggles, so their schtick's been done.
TISM
Ok, I understand the reasoning for why loads of Gen Xers are signing an online petition for the 90s comedy band to reform for Eurovision...they see Eurovision as a massive joke and an opportunity for TISM to do what they do best - take the piss. However piss-taking is a risky strategy for Eurovision entries - Iceland tried it with Silvia Knight in 2006 and Ireland had a go with Dustin the Turkey in 2008. They both bombed.
Iggy Azalea/Sia/Keith Urban/any other Aussie currently big in the US
Look, it's just not going to happen.
Australian TV talent show alumni
Let's face it, this is the most likely scenario. We saw Jessica Mauboy provide the interval entertainment in the second semi final in Copenhagen last year, and she certainly got a good rap from the people in the room (trust me, I was there). But they're not likely to send her to Eurovision two years in a row. So they'll probably look for another bright young thing fresh from the plethora of commercial TV talent shows. Samantha Jade is currently the bookie's pick, but given her Woolies TV ad performance hopefully she's not SBS's favourite. A lot of other recent winners and also-rans from the X-Factor and The Voice have also been mooted, including Dami Im, Anja Nissen, Marliza Punzalan, Reece Mastin and Taylor Henderson. Now, because I don't watch these shows I have no idea who these people are, but I can predict they would probably come up with perfectly serviceable, middle-of-the-road pop. But that doesn't win Eurovision - you need something bigger. Other possibilities could also include older reality show alumni, like Guy Sebastian, Anthony Callea or Ricki-Lee - all solid acts, but not terribly exciting for our debut (and possibly only) entry.
My choice
Obviously it's not up to me, but what I'd love to see us present to Europe would be a big, campy, up-beat pop number that references the Australian experience - it would be particularly nice to see an Indigenous performer up on the stage. It has to be fun and it has to be glittery. Fingers crossed SBS makes the right choice!