At least that’s what E! News is reporting, saying that the singer signed a contract this week giving her “15 million for one season’s worth of work” and that she had “agreed in principle to the deal weeks ago and had spent the last several days working out the fine print.”

“The contract is signed,” an unnamed source told E! News.  “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 X Factor” underwent an overhaul after the show’s first season as judges Paula Abdul and Nicole Scherzinger departed along with host Steve Jones.

So far, there’s been no official announcement regarding Spears’ joining the program. Rumors had circulated for weeks that she was the top candidate replace to Abdul. At least one showbiz blog – Crazy Days & Nights – asserted that Cowell would never sign anyone who might draw the spotlight away from him. Other artists rumored to be joining “X Factor” during the past few months included Janet Jackson, Miley Cyrus and Mariah Carey.

But what do you think? Will Britney’s joining “X Factor” make you watch the program?