Britney Spears on February 11, 2012 in Beverly Hills, California. Credit: Larry Busacca/Getty Images

Are you ready?

Britney Spears has officially signed a deal with The X Factor!

A source confirms to Us Weekly that Spears will join Simon Cowell and L.A. Reid as a judge.

E! News first broke the story Wednesday that the 30-year-old pop superstar has signed a contract with X Factor. "There's been a lot of back and forth over the past few weeks as they negotiated the small details, but she's on," a source told E! News. "It's all completed and Britney is beyond excited."

On April 11, a source close to the negotiations told Us the "Till the World Ends" singer will get $16 million for doing the show. "No paperwork has actually been signed yet," the source explained at the time. "But they finally came to terms. It was a long negotiation . . . Britney was a natural fit."

An insider now tells E! News, "She can't wait to sit down next to Simon 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."

PHOTOS: Her best and worst looks of all time

Tell Us: Are you excited to see Britney Spears on X Factor?