It seems that Simon Cowell is in talks with US broadcasting network Fox to launch a US version of the X Factor, and he wants Cheryl Cole and Louis Walsh to head up the show, according to The Sun.

An ‘insider’ is quoted in the paper as saying, “Simon is really keen on bringing the X Factor to America as it has been such a hit in the UK.

“And he is convinced that the yanks will love Cheryl and Louis.

“He’s made no secret of the fact that he wants to expand his TV interests around the world and this is one of the first big ideas he’s got…

“It’s early days but he hopes to get it on air next year.”

However, the chances are, Simon won’t be on the show himself. Already worth an estimated £120 million, he’s about to embark on a new “one stop entertainment company” venture with billionaire Philip Greene who made his fortune in part by running Topshop.