Diane Kruger picked a hot, sheer red dress for the big Vanity Fair Oscars bash in LA yesterday. She skipped the actual Academy Awards, but she was looking ready for a special night out in her revealing Calvin Klein Collection gown. Unfortunately, Diane was without her boyfriend Joshua Jackson as a date. Inside the event, Diane mingled with fellow celebrities and posed for photos with Jane Fonda. Elsewhere at the soirée, Katie Holmes and Tom Cruise chatted with friends David and Victoria Beckham. The VF festivities are just one of the many after parties that took over the city post-Oscars, so stay tuned for lots more coverage of Hollywood's biggest night.