Jessica Simpson to become one of the judges alongside Cowell, a show insider tells PEOPLE. Simpson, 30, has the skills needed for this particular format, which features a $5 million recording contract as the grand prize, says the insider.
Still, there are a lot of factors that go in to making the final choice. "There loads of conversations happening at the moment," says the source.
"No one has been offered a judging role yet as new names keep coming forward who want the role, but there are some frontrunners and it's fair to say Jessica is one of them. She's very keen."
"She knows what she is talking about [and] is talented and likable," the source says. "But Simon's not in a rush to decide. The judges have to mentor on 'The X Factor' -- it's more than just turning up for a few hours a week to appear on TV."
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