The prize presentation is to take place Sunday. It will be simulcast on TNT and TBS.
Also expected to help out during the show are Scott Bakula, Alec Baldwin, Jeff Bridges, Rosario Dawson, Josh Duhamel, Angie Harmon, Eva Longoria, Cory Monteith, Amy Poehler, Hilary Swank, Betty White and SAG President Ken Howard.
Borgnine, 94, and Conway, 77, first starred together in the 1960s during the popular World War II sitcom, "McHale's Navy." The two have reunited in recurring voice-over roles on Nickelodeon's hit series "SpongeBob SquarePants," in which Conway's character Barnacle Boy serves as sidekick to Borgnine's semiretired aquatic superhero Mermaid Man.
2014: The Year in Music [PHOTOS]