The tie is the reward for Portsmouth making it through ties against Third Division Northampton Town and a tricky away tie at Nottingham Forest - Portsmouth's first away win of the season.
Southampton have made it to the dance by thrashing Bristol City 3-0 at Ashton Gate on Tuesday night; they recieved a bye in the second round so they could concentrate on going out of the UEFA Cup at the earliest conveniance.
We all await news of whether Sky will decide to choose this match to screen.
As we're down to the nitty-gritty, the full draw is:
Aston Villa v Crystal Palace
Arsenal v Wolves
Liverpool v Bolton
Middlesbrough v Everton
Reading v Chelsea
Southampton v Portsmouth
Tottenham v Man City
West Brom v Man Utd