Britney Spears joins X-Factor

Britney Spears has officially signed on as a judge on X-Factor for a cool $15 million.

"She's ready for this. She can't wait to sit down next to Simon at the judges' table and give this everything she's got," a source told E! News.

The singer will replace former judges Paula Abdul and Nicole Scherzinger.

Although many superstars were rumored to be joining the show, Simon Cowell has always favored Spears.

"She's still hot, she's still having hit records, and she's still controversial. There's a reason for that," he said.