Paula Abdul, Simon Cowell

Todd Williamson/

UPDATE: It's official! Fox annouced Sunday that Paula Abdul will be the fourth judge on The X Factor, calling her "America's sweetheart, a world-renowned choreographer and a pop icon." Simon Cowell says in the press release: "This show would never have been the same without Paula and I can't believe I am saying this—I have missed her a lot, and I am thrilled she's on the show."

Looks like the TV reunion we've been hoping for is actually happening.

Sources tell E! News that Simon Cowell is closing negotiations to bring Paula Abdul on The X Factor as its fourth judge. Other judges already in place behind the table are former Def Jam president L.A. Reid, British superstar Cheryl Cole and, of course, Simon.

Paula will be the final piece of The X Factor puzzle, as the hosts have also been named: Nicole Scherzinger and British TV personality Steve Jones...

Paula was recently released from further obligations with the CBS competition series Live to Dance, which was a ratings flop. She judged American Idol with Simon for eight seasons before leaving in 2009. Mariah Carey had also been rumored to be in contention for a judges spot, but last month Simon said that while she won't be a judge, she'll be "involved in some way" with the live shows.

Since annoucing he was bringing the U.K. hit over to America, Simon has been optimistic about getting Paula on as a judge. Auditions are happening right now in Los Angeles, but we have not yet officially confirmed if Paula is signed on or if she will be involved with the audition process.

Are you excited Simon is bringing on Paula as a judge? Will you watch The X Factor when it premiers this fall?

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