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Miley Cyrus, Demi Lovato Joining X Factor?

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Miley Cyrus and Demi Lovato

When Simon Cowell's X Factor premieres its second season, fans may see quite a few familiar faces alongside L.A. Reid on the judges' panel.

In addition to Britney Spears — who is nearing a $16 million deal to appear on FOX's series — creator Cowell, 51, is also courting Miley Cyrus, E! News reports. Though no offer has been extended just yet, producers are said to be interested in the 19-year-old pop star.

PHOTOS: Simon Cowell and more judges, before they were famous!

Also in the running for the fourth judging spot: Disney darling Demi Lovato, according to The Hollywood Reporter. Should 19-year-old Lovato sign on the dotted line, she'd start her role on the series with the judges' audition rounds that are scheduled to begin at the end of May.

Related: PHOTOS: Famous Disney stars

Cowell has been actively searching for talent to replace the X Factor vacancies since January, when judges Paula Abdul and Nicole Scherzinger — along with host Steve Jones — were given the axe.

As a show source explains, the series — which crowned Melanie Amaro as its first champ — is in need of some serious star power.

Related: VIDEO: What to expect from Melanie's debut album

Mega-watt talent is needed "badly," says the insider. "You can't have Idol with Jennifer Lopez and The Voice with Christina Aguilera and have X Factor with, um, Paula Abdul."

Tell Us: Who should judge season 2 of X Factor?

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