'X Factor': Britney Spears signs on to join show - report

britney-spears-2012-getty.jpgOne down, one to go.

After countless rumors and seemingly endless reports of negotiations, Britney Spears has officially signed on to join "The X Factor" as a judge. E! News is reporting that Spears inked the deal earlier this week. She'll get $15 million for one season on the singing competition.

"The contract is signed," a source tells the publication. "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 continues, "She can't wait to sit down next to Simon [Cowell] at the judges' table and give this everything she's got. She is excited about showing the world that she can do this, and do this well. This is the perfect next stage in her career. Both Britney and Simon are very excited to work together."

A FOX spokesperson had no comment on the report.

Spears has long been discussed as a possibility to fill one of the two vacancies on the judges table. But now it looks like that deal is done. As for the other opening, the most recent word is that "Skyscraper" singer Demi Lovato has agreed in principle but has yet to sign on the dotted line.

This isn't Spears first go 'round with reality TV. She last starred in the forgettable "Britney & Kevin: Chaotic" series with ex-husband Kevin Federline.

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