Jennifer Lopez Is Leaving American Idol

Jennifer Lopez arrives at the premiere of Lionsgate's "What To Expect When You're Expecting" held at Grauman's Chinese Theatre on May 14, 2012 in Hollywood, California. 

Jennifer Lopez is saying sayonara to Ryan Seacrest, Randy Jackson, Steven Tyler and the gang.

The "I'm Into You" singer is leaving American Idol after serving as a judge on the reality competition since 2010, a source confirms to Us Weekly. (E! News first broke the story.)

"There is just too much going on for her right now," explains the source.

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Lopez, 42, just landed the top spot on Forbes' 2012 list of most powerful celebrities. One of the biggest reasons for her ranking was her Idol gig, which, in addition to its $20 million payday, provided a platform for her to land lucrative endorsements with L'Oreal and Gillette, as well as launch a clothing line and popular fragrance.

This summer, the pop star will embark on a 20-city tour of the U.S. and Latin America with Enrique Iglesias with dates that conflict with Idol's pre-taping schedule; she's also in the midst of recording a new album, with numerous film projects on her slate as well (including a role in this summer's Ice Age 4: Continental Drift).

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"She regrets she can't stay on the show," the source adds. "It's been an incredible experience and she is forever grateful that she did it."

Earlier this month, the mom to twins Max and Emme, 4, who is currently starring in What to Expect While You're Expecting, opened up to Us Weekly during a press conference for the film about her jam-packed schedule.

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"I'm a little tired right now, I'm not going to lie," Lopez admitted to Us about doing her best to balance it all. "I've been rehearsing, doing Idol, promoting this movie… the kids, it's a lot of stuff!"

Still, she said, she feels lucky to be staying as busy as she is. "I feel really in the zone," she shared. "I feel really good about everything, I feel like everything's going so well. I feel blessed, I do."

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