After weeks of rumors, Britney Spears reportedly has agreed to become a judge on The X Factor.

E! News reports Britney signed a one-season contract this week that will pay her 15 million dollars.

A source close to the pop star says, "There's been a lot of back and forth over the past few weeks as they negotiated the small details, but she's on. It's all completed and Britney is beyond excited."

The source also says Britney and Simon Cowell are "very excited" to work together.

Britney will join Simon and L.A. Reid at the judges table for the Fox singing competition. Demi Lovato and Miley Cyrus are rumored to be in the running for the final vacant judge's slot.

Britney Spears wants Demi Lovato to join her on US 'X Factor'.

The pop princess will reportedly receive $15 million to join Simon Cowell and L.A. Reid on the judging panel of the pop star search show and has asked that Demi be considered for the final position because she believes they would have great chemistry together.

A source told RadarOnline: "Britney is the anchor of the new judging panel and that was Simon's most important hire. Britney is extremely hopeful that Demi Lovato will become one of the judges because she truly admires her. Britney loves how open and honest Demi has been with her fans after she went to rehab last year. She thinks they have a lot in common and that they would have great chemistry on the show. Britney is being kept apprised of the status of ongoing contract talks with Lovato and it is looking like she will be joining the show! Britney is extremely excited for filming to begin, which will be in the next month.

"Britney and Demi have met a few times very casually at Hollywood industry parties but those were very brief. Demi went to one of Britney's concerts in Anaheim in 2011 and met with her backstage. Once Demi officially signs her contract Simon will have the new judging panel over to his house for a celebration dinner. The second season of 'X Factor' is going to be amazing."

Judges Nicole Scherzinger and Paula Abdul were sacked after one season on the show.

Britney Spears has reached an agreement to serve as a judge on Simon Cowell's "The X Factor" — and the payday is really something to sing about.

The 'Womanizer' singer will collect $15 million overall for the gig — approximately $13 million to judge music-industry aspirants alongside Cowell and record executive L.A. Reid, and the rest as a bonus for performing on the show, an individual with knowledge of the deal told TheWrap.

The deal has been agreed upon, but has not yet been signed.

The new season of X Factor USA will reportedly return this fall, and according to recent reports, it is being alleged that singer Britney Spears is being considered to be a judge on the new season of the show.

As reports, Simon Cowell said of the various rumors that have been reported in the media: "You'll have to wait and see. I can't confirm or deny anything right now. The truth is, we are talking to a number of people. It changes on a daily basis to be honest with you. [We're looking at] a very famous singer and one very famous actress. You've gotta talk to everybody."

Britney Spears and Shakira are reportedly recording a song together.

The pair are working on a new track produced by Black Eyed Peas star will.i.am, which is scheduled to be released later this year E! Online reports.

Singer and producer Pharrell Williams, who is also rumoured to be involved in the project, said: "I have proposed to [Spears's label] Jive Records to bring Shakira into the studio and they thought it was a fabulous idea."

He added: "I want to make it happen. I want an explosive duet and won't sleep easy until I see it."

After years and years of rumors Britney Spears is officially engaged to her boyfriend Jason Trawick.

Her man proposed on his birthday on Thursday night in Los Angeles.

"He surprised her after she gave him his gifts and after they had cake last night," a source says of his proposal

Britney and Jason had been talking about marriage for a long time and there have been rumors on a monthly basis about an engagement but this time it's official.

Britney even tweeted writing, "OMG. Last night Jason surprised me with the one gift I've been waiting for. Can't wait to show you! SO SO SO excited!!!

The 29-year-old pop star Britney Spears shows off her curvy figure a bright yellow bikini while relaxing at Four Seasons Hotel in Buenos Aires with her two children, Sean Preston and five-year-old Jayden James.

The 29-year-old pop star Britney Spears shows off her flat stomach in skimpy green swimsuit as she relaxed poolside with her boyfriend Jason Trawick and two children, Sean Preston and Jayden James in Rio de Janerio.

Britney Spears has released the video for 'Criminal,' the latest single off her album 'Femme Fatale.'

Spears strips naked with her real life boyfriend, Jason Trawick, in a steamy shower sex scene for the controversial video for her latest release single, Criminal, which was filmed in Hackney, East London.

The 29-year-old pop princess Britney Spears wearing a black leather biker jacket, a tiny pair of black shorts and carried a fake gun as she shoots the video for her new single 'Criminal' in London.