After months of speculation, Britney Spears can now call herself an X Factor judge after signing a lucrative contract to join the hit show’s judging panel.

Spears will take a seat alongside show creator Simon Cowell and LA Reid, which will see her earn a whopping $15 million just for one season.

“The contract is signed,” a close friend of Spears revealed to E!. “There’s been a lot of back and forth over the past few weeks as they negotiated the small details, but she’s on. It’s all completed and Britney is beyond excited.”

“She’s ready for this,” the source added. “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. This is the perfect next stage in her career. Both Britney and Simon are very excited to work together.”

The search has been on for months after Cowell fired season one judges Paula Abdul and Nicole Scherzinger along with host Steve Jones back in January.

A fourth judge has yet to be named, but insiders say Demi Lovato and Miley Cyrus are both in nogotiations.