Australian ‘80s soft-rock hitmakers Air Supply are to be inducted into the ARIA Hall of Fame.

The duo of Russell Hitchcock and Graham Russell will be inducted during the 27th annual ARIA Awards, which will be held Dec. 1 at Sydney’s The Star Event Centre.

Hitchcock was thrilled to hear the news. “It is a great honor for us, and it was something that was totally unexpected,” he says in a statement. “We are certainly excited to come home to Australia and to have fun with everybody and we want to say thank you to all who participated in our ARIA Hall Of Fame induction. We thank you from the bottom of our hearts.”

The pair met in Sydney on May 12, 1975 while performing in the "Jesus Christ Superstar" musical. They found common ground in their love of the Beatles, and went on to carve-out their own slice of recorded music history.

Air Supply floated onto the Billboard Hot 100 with "Lost in Love," which peaked at No. 3 in 1980. The song initiated a run of seven consecutive top fives in a little more than two years, including a trip to the top with "The One That You Love" in 1981. The pair added the No. 2-peaking "Making Love Out of Nothing at All" in 1983.

Air Supply's "Greatest Hits" album has shifted upwards of 5 million units in the United States since its release in 1983.

All told, the group has sold more than 40 million albums and they’ve shifted upwards of 10 million singles over the course of their career.

The group has received BMI Million-Air Certificates recognizing more than three million performances for "All Out of Love” and “Lost In Love.”

On their Hall of Fame induction, Air Supply will join the ranks of Australia’s all time-greats, a list that includes Men At Work, Billy Thorpe, Kylie Minogue, INXS, The Saints, Midnight Oil and last year’s recipient, Yothu Yindi.