Fans of Jennifer Lopez and 'American Idol' can rest easy, as The Wrap announces that the singing superstar has worked out a deal to return to the talent competition for another year as a judge. J. Lo is supposedly in the process of inking a new contract for "a smidge over" $20 million, according to the Hollywood news publication.

The $20 million was apparently the base minimum for Lopez, and after tough negotiations with Fox, ended up just above that number. If the new numbers on the contract are correct, Lopez nearly doubled her reportedly $12 million she raked in for judging the fan-favorite reality show last season.

Reports say the new deal is nearing being complete, after they factor in Lopez's hectic schedule as she juggles two major productions -- the romantic dramedy, 'What to Expect When You're Expecting,' slated for a May 2012 release, and the thriller, 'Parker,' currently in pre-production.

"I had an amazing time doing ['American Idol'] and I loved it, but I have a lot of other things happening, and it's going to come down to making a choice of really what I want to do for the next year," Lopez recently told BCC [quotes via TheWrap]. "We're not really at the breaking point of 'You have to make a decision right now!' So I'm not. I'm really enjoying the time of just waiting -- and seeing."

Fox and a representative for Lopez had no comment for TheWrap on this story.

Watch the Jennifer Lopez 'On the Floor' Video