REPORT: Spears Signs On As 'X Factor' Judge

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REPORT: Spears Signs On As 'X Factor' Judge

Rumor has it that Britney Spears will be The X Factor's newest judge!  

Spears will reportedly fill the void left by Nicole Scherzinger and Paula Abdul, who were ousted shortly after season one of the singing competition wrapped last December. The pop star would join remaining judges L.A. Reid and Simon Cowell.

RELATED: Britney Spears Offered Millions for 'X Factor' Gig

No word yet as to whether or not Spears has indeed been offered the $10 million payday for the gig. Jennifer Lopez is rumored to take in $8 million for her judging duties on American Idol.

FOX has declined to comment on either matter, but the network is expected to announce the news next week during their 2012 upfronts.

RELATED: Melanie Amaro After Her 'X Factor' Pay Day

Mariah Carey, Miley Cyrus, LeAnn Rimes and Demi Lovato are just a few of the big names believed to be tossed around for the remaining judge's seat.

Earlier this year, Janet Jackson politely declined the invitation, saying she was "very flattered that X Factor let [her] know that [she] was being considered for next season, but it just wouldn't be possible."

Steve Jones' now-vacant hosting seat is also up for grabs.

RELATED: Britney Spears Nearing 'X Factor' Deal

The X Factor is now holding online auditions for season two, airing later this year.