Open arms - but not in a Scott Stapp kind of way, they might take offence (any thinking being would).
Nobody’s coming all this way just to pick a fight.
Of course not, it’s common knowledge that Earth girls are easy.
If they came all this way for our resources, our puny attempt at retaining them probably won’t be adequate.
Even if putting out our rebellion proved to be only a minor inconvenience, why would they bother when they could go to one of the infinite number of uninhabited planets with similar resources?
I’d welcome them. No where to run. I’d be kinda nonchalant about it though. Aliens don’t like huge suck ups.
This is why we need to use up all of our resources as fast as possible. If a mother ship lands it ain’t going to be military and it ain’t going to be social. It will be the mother of all Exxon Valdezes and I want see the looks on their little alien faces when they find out that the oil is gone.
Why does that matter? We got nowhere to run from space-faring enemies, so the options are fight or surrender. I choose to fight.
Eh, I can run but I (almost certainly) cannot hide. Open arms.
Which would probably be my gut reaction anyway. Real aliens! Coolness!!! 
If I’m going to die, at least I’ll die curious
Tell them Tiger Woods is going to screw them if they don’t go away.
Throw water on them.
Would I be scared? Hell yeah! Interstellar spaceships are not something you see every day - neither are extraterrestrial space travelers. However:
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If they’ve figured out interstellar travel, it’s pretty likely that they’re big on science and therefore their motive is likely to be curiosity - all that invasion stuff in the movies is sensationalist hype designed to maximize ticket sales;
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Having evolved on another planet, it’s highly unlikely that they would be able to eat our food, drink our water, breathe our air, or have sex with us (sorry guys) so what other purpose could they have here besides exploration;
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If they are friendly then by running we may be missing out on a chance to exchange scientific and technological knowledge with a considerably more advanced species than our own;
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As others have said, if their intentions are malevolent then we would have nowhere to hide anyway.
Gloorg to Mwrang: “I just translated Le Comment Servir L’Étranger. Guess what…It’s a cookbook!”
Stranger
Swing down sweet chariot and let me ride!
I’m sure Sir Nose D’Voidoffunk won’t be too happy, but
WE
NEED
THE FUNK!
“Once again, the L.A.P.D. is asking Los Angelenos not to fire their guns at the visitor spacecraft.”
From Independence Day.
That’s just it. What exactly would we have to trade with someone advanced enough to travel here from another star system?
Godiva chocolate is good, but I don’t think it’s all that.
We just don’t know. Their technology probably hasn’t developed along the same path as ours. They might not have the technological ability to make cellphones (okay, an unlikely example, but still) so they’d be delighted that they can learn it from us.
Meh, sugar is probably lethal in tiny amounts to them anyway. More chocolate for us humans.
Might as well welcome them and hope to get a badass uniform.
Open arms. Gotta make sure that Jeff Goldblum and Will Smith are hale and hearty in case there’s trouble.