Who'd have thought that this would have become a top of the table clash just a few weeks ago? Man City were obviously going to be up there or thereabouts, but what a barnstorming start from Palace, who have won three out of four - including against last season's champions by a long way, Chelsea - to sit just behind the Citizens in second!
Meanwhile the most interesting thing about City's lineup is that Kevin De Bruyne is not in it - the £55m man is on the bench for Pellegrini's side. David Silva is out with an ankle injury while, according to the visitors' Twitter, Raheem Sterling "has a small problem and has been left out of the squad as a precautionary measure". Those two are replaced by Samir Nasri and Wilfried Bony.
There will be positive vibes among both sets of fans here today - the Eagles are flying high in the Premier League table, while City have laid waste to all before them to sit top of the table with a hundred percent record.
Bakary Sako, who starts against the table-toppers today, had this to say ahead of the game: "We know it will be tough today because Man City are one of the best teams in the Premier League, but we will try our best to win. We're going to have to play on the counter-attack a bit, because they'll have the ball and try to keep it."
Given the fact that only Arsenal have taken points off Crystal Palace so far this season, it could be said that Alan Pardew looks on course to build on the solid foundations he laid in the second half of last season.
The Londoners negotiated a tricky visit to newly-promoted Norwich City on the first day of the campaign, emerging with a 3-1 win, before a 2-1 defeat to the Gunners eight days later at Selhurst Park stunted them ever so slightly.
That would prove a minor blip as Sako marked his debut with a late winner in the 2-1 victory over Aston Villa, with the ex-Wolverhampton Wanderers man scoring again as Palace defied the odds by beating Chelsea by the same scoreline to see them edge into the top two ahead of the international break.
Lest we forget, the Eagles recorded a 2-1 win over Manchester City just last April - a result that effectively hammered home the final nail in the coffin of the Citizens' Premier League title chances last season. So with all this into account, the 2013-14 champions should watch out.
If ever you could label something as "a perfect start", Pellegrini's side would have nailed it. Everything has clicked into place this season for them, so it will be interesting to see how they get on against a team that seems to have got into the habit of claiming giants' scalps.
Interestingly for City, who have received criticism in recent years for seemingly neglecting their home-grown players and their youth, their bench includes three names that few outside the Etihad circuit would know.
So we have Kelechi Iheanacho, a Nigerian striker who has already featured on the bench twice and came on in the last minute for Sterling in his side's clash against Watford; Patrick Roberts, a forward with five goals in eight games for England Under-19s; and Manuel Garcia, an attacking midfielder from Spain. The first two are 18, while the latter is just 17.
Let's get some more updates from the respective managers. Pardew had this to say: "I think we're good to watch. We're different to Manchester City. They retain the ball, they can dominate possession, and that will be the key - how many times we can unlock the door on our breakaways. It's great for our fans because of a little bit of ribbing about a top of the league clash."
Pellegrini, meanwhile, had previously focused on his new golden boy: "Kevin [De Bruyne] is an important player, like Raheem [Sterling], he has characteristics we need. His position is easy to settle in our team. He will be a very important player for us. He's in the squad list, we'll see whether he starts. He's a young player and he's improved a lot since he was last in the Premier League."
As we now know, De Bruyne has been placed on the bench today - an attempt to ease him gently into the in-form squad of the season so far, or a lack of willingness to fix something that clearly isn't broken? I'd say a bit of both.
HEAD TO HEAD: Now let's get down to cold hard stats. Palace's 2-1 home win over City in April ended a seven-game losing streak against them in all competitions, with the Eagles last securing successive league wins over the blue side of Manchester in the mid-1990s.
Palace, enjoying their best start since 2006-07 with nine points from four games, would surpass their current highest-ever points tally after five games of a top-flight season with victory today. In addition they have won five of their last six Premier League games.
Now for City. They have won their last 10 league matches - a new club record. The top-flight record is 14, set by Arsenal in 2002. In addition Pellegrini's charges have scored 28 goals during this period and conceded only four times. And also, they have not conceded a goal in their last five league games - a sixth successive clean sheet on Saturday would set a new club record.
First few minutes and Palace are quickest out of the starting blocks. Following his first chance, Bolasie is involved again as his cross gets cleared behind for a Palace corner - one of two in quick succession before Sako overhits a set piece for a City goal kick.
CHANCE! And what a save that was from the Palace keeper! City's free kick is taken quickly and sent to Nasri - the Frenchman breaks through the Palace back line and goes one-on-one with McCarthy, but a point-blank save keeps Palace's clean sheet intact!
Zaha is fouled by Sagna, giving Palace a free kick in a dangerous position on the left. The ball is whipped into the heart of the penalty by Puncheon but Kompany is just about able to get a foot on the cross.
BOOKING: We have the first card of the game as Dann receives a yellow card after stopping Aguero from breaking away following a visitors' clearance. Moments earlier Cabaye was seemingly brought down by a challenge from Fernandinho but nothing given.
CHANCE! Two pulls of the trigger for City as De Bruyne finds Bony, who forces a save from McCarthy, while the Ivorian's second attempt following Nasri's cutback ends with similar results i.e. not in the back of the net.
Much will said about Aguero's injury but De Bruyne has been involved in a number of good City plays so far, so depending on the consequences of Dann's tackle, the Belgian could be fast-tracked to the starting XI, with all the responsibilities that come with such a position.
It's quietened down on the Selhurst turf as City have gone down a few gears and seem content to just probe gently for an opening without penetrating too deeply. As for Palace, Bolasie and Zaha link up well, but the latter is called offside when he gets in behind.
The referee's whistle puts an end to a first half which had plenty of chances and controversy to boot, with Scott Dann's challenge on Sergio Aguero forcing the Argentinian to exit the field. Kevin De Bruyne came on for Aguero and has impressed so far, but the City staff and faithful will now have to see just how many responsibilities the Belgian will have to take on depending on Aguero's injury.
In terms of possession, City have dominated with just over 57 percent, but they've not been able to make much of it in Palace's final third. Will they regroup and go for the kill or can Palace continue their great start? Stay tuned to Sports Mole and find out!
Zaha, ever so impressive for Palace today, gets the better of Kolarov and De Bruyne, but his pass to Puncheon is intercepted. At the other end, Toure goes for goal but fails to connect properly and the outcome is a wayward shot.
Still no sign of the deadlock being broken with fewer than five minutes left on the clock here at Selhurst Park. You wouldn't have expected this to be a goalless draw ahead of the game, did you? I certainly didn't.
What a moment for Man City and what a moment for Kelechi Iheanacho, in the right place at the right time to pick up the loose ball after a saved Nasri shot to rifle home! Five added minutes here at Selhurst.
It's all over at Selhurst, and Man City now have five wins from five, thanks to Kelechi Iheanacho's late, late goal making it 1-0 to Pellegrini's side. The teenager will cherish this moment forever - but you can't help but feel for a well-drilled Palace side that more than matched their opponents today.
Stay tuned to Sports Mole for match analysis and player ratings from this game, not to mention all the results and latest reaction from all the day's main games! Thanks for following and enjoy the rest of your weekend!
DIVING · Team GB duo Jack Laugher - silver medallist in Rio - and James Heatly take part in the men's 3m springboard semi-final (2am), and will hope to qualify for the final later in the day (7am)
ATHLETICS · Two Britons are involved in the women's long jump final, but Abigail Irozuru and Jazmin Sawyers have their work cut out to get a spot on the podium (2.50am)
· Norwegian Karsten Warholm, who broke the world record just last month, goes for gold in the men's 400m hurdles final. USA's Rai Benjamin is expected to be his main challenger (4.20am)
· Great Britain have three representatives in the final of the women's 800m, with Jemma Reekie having perhaps the best chance of a medal (1.25pm)
· A mouth-watering women's 200m final sees Elaine Thompson-Herah go for the prestigious sprint double after claiming the 100m crown. Compatriot Shelly-Ann Fraser-Pryce, Namibia's Christine Mboma and USA's Gabrielle Thomas are expected to be her main competitors (1.50pm)
SAILING · The rescheduled women's skiff 49er FX (4.33am) and men's skiff 49er (5.33am) come to their conclusion, with Team GB involved in both medal races
· Defending champion Giles Scott bids for a second successive gold in the Finn class medal race (6.33am)
· There is another medal chance for Team GB in the mixed Nacra 17 medal race (7.33am)
ARTISTIC GYMNASTICS · Team GB's Joe Fraser takes part in the parallel bars final, kicking off the final day of artistic gymnastics (9am)
· USA superstar Simone Biles, who has been forced to pull out of all of her finals so far, is on the starting list for the beam final as she bids for a fifth Olympic gold (9.50am)
FOOTBALL · The men's semi-finals take place, with Mexico taking on Brazil first up (9am)
· The winner of that first semi-final will face either hosts Japan or Spain (2pm)
CYCLING · Laura Kenny will look to win a third straight Olympic team pursuit gold medal. Team GB take on United States in their heat (7.44am), with the gold medal race later that day (9.26am)
· Laura's husband and fellow Olympic legend Jason Kenny will also look to continue his huge success in the men's team sprint - an event he has won gold in at every Games since 2008. Team GB will first need to get through the men's qualifying (7.58am), with the gold medal race ending the session (9.44am)
BOXING · Pat McCormack will be looking to achieve his dream of Olympic gold when he faces Cuba's Roniel Iglesias (11.05am)