It's time to buy some whiskey!

Ultimate Fighting Championship (UFC) today officially announced that its middleweight champion, Anderson Silva, will indeed defend his 185-pound title against the trash-talking Chael Sonnen at the Oracle Arena in Oakland, Calif., on Aug. 7.

Unsurprisingly, company president Dana White is looking forward to UFC 117: "Silva vs. Sonnen."

"When we offered Chael Sonnen this shot at the title, he promised us one thing: that he was going to make this a fight. I know he means it, and after beating three legit contenders in Nate Marquardt, Yushin Okami, and Dan Miller, he's definitely going to bring the best out of Anderson Silva on August 7th. And as far as Anderson is concerned, he wants to remind everybody why he’s considered the best pound-for-pound fighter in the world."

Silva is coming off a controversial unanimous decision win over Demian Maia at UFC 112 earlier this year. "The Spider" danced the night away, taunting and floating around the Octagon much to the ire of White.

In fact, White was so enraged with Silva's antics that he refused to put the belt around his waist once he was announced the winner. He even threatened to cut the Brazilian --- widely regarded as the top mixed martial artist on the planet -- if he ever did it again.

So it's safe to say the Silva will be out for blood on fight night. Sonnen's sharp tongue will only add more fuel to the fire.

Sonnen, when he's not talking, is busy kicking ass and taking names inside the cage.

His most recent performance, during which he outworked and out-muscled perhaps the most muscle-bound fighter in the division, Nate Marquardt, earned him a crack at Silva.

However, a huge gash on his forehead prevented him from taking the fight in Abu Dhabi, opening the door for Maia.

The rest, as "they" say, is history.

Also announced for UFC 117 was a welterweight showdown between former champion Matt Hughes against Ricardo Almeida, as well as a lightweight contest between Clay Guida and Rafael dos Santos.

Thiago "Pitbull" Alves is also expected to finally (third time is the charm) seek revenge on longtime nemesis, Jon Fitch.