Who's the latest A-lister to have talks with 'X Factor' producers? None other than Demi Lovato!

The Hollywood Reporter says that Lovato and her team are close to finalizing a deal with the fledgling Fox series, though the deal isn't set in stone yet. Sources say Simon Cowell is extremely particular about his panel, which may explain why it's taking the show so long to fill in the slots left empty by Paula Abdul and Nicole Scherzinger's abrupt exits.

Cowell is keen on the 'Give Your Heart a Break' singer because of her appeal to the enviable young demographic, which would bring whole new sets of eyes to the show.

Reps for Lovato, Cowell and 'X Factor' have yet to confirm nor deny reports of her involvement, but the show is expected to make an announcement on May 14 at Fox's upfront event for advertisers. This may be where they also finally confirm and announce Britney Spears' spot on the panel.

Whatever the case may be, a decision should be made pretty soon -- auditions for the new panel of judges, whoever they may be, are scheduled to start at the end of this month!