Hostess Brands and a key union have agreed to try and mediate their dispute today.An unexpected development that could spare the company shutting its door's permanently. U.S. Bankruptcy Judge Robert Drain said he wanted the parties to try one last time to reach agreement and he will serve as mediator at a session scheduled for this afternoon in New York.

The hostess CEO Greg Rayburn said the company needs a final decision today. Monday's hearing on the liquidation motion was rescheduled for Wednesday at 11 a.m.

The company wants to liquidate its assets and sell off what they can to rival companies. There has even been a report of a Mexican company wanting to buy the twinkies brands.

Here's hoping a miracle happens and Hostess and its employees come together and save the company as it is.

Long Live the Hostess Cupcakes!!!!

Scott Olson, Getty Images