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ET can exclusively reveal that George Clooney is hosting a fundraiser for President Barack Obama's re-election campaign -- but there's one thing he won't do to help the president.

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Clooney tells ET, "I'm proud to do whatever I can to support the President... as long as no one asks me to sing."

Of course the singing reference brings to mind the president's own, well-demonstrated singing talent that he has showed off at least twice in recent months.

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Clooney will host the president and about 150 supporters at the event on May 10 at his home in Los Angeles, California. If you think it will be cheap to get a chance to hobknob with an Oscar winner and a president, though, think again -- tickets will run $40,000 each, with proceeds going to the Obama Victory fund, a joint fundraising committee of Obama for America, the Democratic National Committee and several state Democratic parties.

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