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Marchers commemorating the 40th anniversary of the Stonewall uprisings said they were hoping to celebrate another monumental event at yesterday’s annual Gay Pride parade.

But with a gay-marriage bill stalled in a paralyzed state Senate, proponents of same-sex unions settled for the pageantry of one New York’s most colorful processions.

“The people had hopes that this would equal a wedding march,” said City Council Speaker Christine Quinn.

“That is not happening today. Hopes and expectations have been raised, and they feel the rug’s been pulled out from under them.”

The disappointment was not immediately evident amid the colorful costumes and ornate floats that highlighted the festive celebration.

Pride poured from both sides of Fifth Avenue, where revelers danced to hits from the late Michael Jackson.

The parade traveled south along Fifth Avenue, turning west at Eighth Street before it ended at Greenwich Street in the West Village.

The marchers passed the former location of the Stonewall Inn, a gay bar on Christopher Street that was raided by police on June 28, 1969, sparking the gay-rights movement.

Proponents of same-sex marriage were hoping the anniversary would be an opportunity to reprise some of the movement’s past glory.

“That’s been the drum that I’ve been beating for close to a year,” said Grand Marshal Dustin Lance Black, an Academy Award-winning screenwriter who was honored for his work on the movie “Milk” about the pioneering gay politician Harvey Milk.

Gov. Paterson, who joined the marchers, has expressed his support for a gay-marriage bill. But legislation has been stalled as Democratic and Republican lawmakers wrangle over control of the Senate.

“We can blame our state Senate,” said Andre Herford, 35, a filmmaker. “They could have made the vote by now. That would have made this a wedding march.

“They’re not doing any work right now. They’re just passing the gavel back and forth. That makes me mad.”

The gay-marriage cause also got a boost from reality TV star Danielle Staub, one of the “Real Housewives of New Jersey,” who joined the march.

“They should have the same rights,” Staub said. “Collectively, my two marriages didn’t last as long as most of the gay community partnerships.”

leonard.greene@nypost.com