displaying execution of Python code

[noahwatkins]

I'll start my question by describing my desired result. I will
construct a GUI which will be used to open a Python script. I would
then like to be able to display the Python script, execute it, and
highlight the lines of the Python as they are executing.

More technically, I am looking for direction on where to start looking
in the Python libraries for a functionality that will allow me to
execute arbitrary Python code from within a Python application.
Additionally, I need to be able to have the ability to get information
and perform actions (e.g. line number currently executing) as the code
executes.

Thanks,
Noah