Diddy, Faith Evans Plan Big Night at Biggie's Hall of Fame Induction

's life and in the immediate success that followed ... so it's only fitting they'll be front and center when Biggie gets inducted into the Rock & Roll Hall of Fame.

Sources close to Diddy tell TMZ ... the music mogul and his family will attend the ceremony -- broadcast live on HBO -- on May 2 in Cleveland. We're told Diddy may have something up his sleeve to honor Biggie ... though it's unclear if he'll perform or pay tribute onstage. Faith tells TMZ ... she's ecstatic about her late-husband being honored as a first-ballot inductee. And, like Diddy, Faith tells us her plan is to attend the ceremony. She's also hopeful she'll be part of the night's festivities honoring Biggie.

The duo, of course, go way back with Biggie. Diddy and Biggie met in the early 90s and he signed Biggie to Bad Boys Records in 1993. Faith was also signed to Bad Boys when she met Biggie at a photo shoot in 1994 and got married just days later. When Biggie was tragically gunned down in 1997 in L.A., Diddy and Faith collaborated with 112 and released a tribute song,"I'll Be Missing You."When the Rock Hall announced its honorees, Diddy couldn't hold back on his excitement ... filming himself on the street going berserk.

I hope LilKim is involved with this one.

I’m predicting a Tupac hologram that Diddy has killed.

I wonder if they're gonna hold the party in one venue and actually be chillin in another. You know for safety..

why did they whack 2pac ?

Will Stevie J be in the building

Can van halen get in the bet Hof

...cause puff gon make it his party.🙄

Is Stevie J okay with that?

Now tell me who you think got Biggie out the way /// they all when back to there past relationship ?

Cool

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