'Shame' Trailer: Michael Fassbender's NC-17 Sex Drama (VIDEO)

Now that it's officially been slapped with an NC-17 rating, director Steve McQueen and releasing studio Fox Searchlight could let it all of "Shame's" nasty bits hang out (so to speak).

But in the tradition of the film's title, no such luck.

The stunning film and festival hit that stars Fassbender as an emotionally-stunted sex addict and Carey Mulligan as his troubled sister, is headed for a December limited release in order to qualify for the Oscars. Given the buzz the film has received and the rave reviews praising McQueen and Fassbender's daringness, it could score plenty of nominations -- if enough voters think a film that can be seen in only participating, non-chain theaters deserves a shot at the gold.

"I think NC-17 is a badge of honor, not a scarlet letter," Steve Giulia, co-head of the Fox Searchlight, recently told The Hollywood Reporter. "We believe it is time for the rating to become usable in a serious manner... The sheer talent of the actors and the vision of the filmmaker are extraordinary. It's not a film that everyone will take easily, but it certainly breaks through the clutter and is distinctive and original. It's a game changer."

"Shame" hits theaters on December 2nd. Fassbender also stars in the upcoming psychological drama, "A Dangerous Method."

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