Excited manager Alan Irvine described the third round tie as 'just fantastic'.

Delighted chairman Derek Shaw summed it up in one word, 'wonderful'.

And shocked ex-Anfield striker Neil Mellor said: "I just couldn't believe it when Liverpool were pulled out."

North End will host Steven Gerrard, Fernando Torres and Co on the weekend of January 3/4.

The game will be a certain 23,400 sell-out – the biggest crowd seen at Deepdale in more than 30 years.

And club chiefs are now waiting to hear if it will be selected for live TV.

"We have got to be one of the contenders," said Irvine, who was given the cup news as he drove back from watching yesterday's South Wales derby at Swansea.

He said: "It would be a good financial boost if we had the cameras here. And looking at the draw, we have got to be in with a shout."

ITV and Setanta will announce which ties have been chosen later today.

Clubs featured in live games will pick up a broadcast fee of £160,000.

Seven Championship sides have been drawn to face top-flight opposition.

But there is a possibility that only three of those games – Southampton v Manchester United, Sheffield Wednesday v Fulham and Preston v
Liverpool – would appeal to television because home advantage for the underdogs throws up a better chance of a shock.

Irvine said he was delighted to be renewing hostilities with Rafa
Benitez's side following his time on Merseyside with rivals Everton. He told the Evening Post: "It is a fantastic draw for us.

"I said before the draw that I either wanted someone from the lower divisions or one of the really big boys here at Deepdale. And they don't come much bigger than Liverpool.

"I expect the demand for tickets will be very high and, with the possibility of it being a TV match, the revenue it generates will be very welcome.

"Liverpool are an excellent side, one of the best in Europe. And I'm sure our supporters will be really looking forward to seeing them at Deepdale.

"I'm sure Rafa will field a very strong side. But let's face it, whatever side he puts out will be filled with stars.

"From a personal point of view it will have that little extra bit because of my time with Everton.

"But that is not really important, it's about the club, the players and the fans. I'm sure all the players will be absolutely desperate to play in this one. Any footballer wants to play in these sort of games – they're the kind you dream of as a kid.

"It will be a great occasion and we are really looking forward to it.

"I was talking to the chairman and he said Preston don't tend to get these sort of big cup ties very often. Well we have certainly got one next month."

Preston's last big FA Cup occasion was a fifth-round visit to Stamford Bridge under David Moyes to take on Chelsea in January 2002.

Before that they hosted Arsenal on TV in January 1999 – the crowd that night was 21,099.

And it is 37 years since Manchester United were at Deepdale in the
competition.

Shaw said: "It's a wonderful draw for us, wonderful. It is one of those top teams, like United, that we have never been fortunate to get in the last 40 years or so.

"It should put a real buzz in the city. And we will see a capacity crowd at Deepdale."

Aptly Liverpool fans will be housed in the Bill Shankly Kop.

The tie will be an extra-special occasion for top scorer Mellor who moved from Anfield to Preston just over two years ago. He played in the same team as Gerrard, Jamie Carragher and Xabi Alonso.

"It will be a bizarre experience for me to play against Stevie and Jamie," he said.

"I always want Liverpool to do well and it would be fantastic if Stevie could lift the Premier League trophy next May.

"I will never forget my time at Liverpool. The staff were brilliant and it is such a special club to play for.

"Hopefully I will be fit and the manager picks me. I won't eat over Christmas so I can get in top shape for the game!"

It is 47 years since Preston last played Liverpool in the FA Cup and it took three games to settle it. In 1962 the sides drew 0-0 at both Anfield and Deepdale before Preston won 1-0 in the second replay at Old Trafford.

>> Match report: Preston v Bristol City

>> Irvine's feeling good