Last week, music mogul Simon announced his return to The X Factor, having originally left his position as head judge in 2011 to launch the US version.
Now with his sights set on being back in the hotseat, Simon is hoping that Girls Aloud star Cheryl will join him on the panel.
Speaking to Reveal during Britain's Got Talent's red carpet arrivals in London today (11 February), Simon says: "I think she'd be crazy not to come back, but you never know with her.
"I'm hopeful that we can do something, but people get cold feet and it's a big big commitment, so we'll have to wait and see."
Cheryl, 30, was a judge on X Factor between 2008 and 2010, but followed Simon to join the panel of the newly-launched US X Factor. However, Cheryl was axed shortly after the auditions began.
"Cheryl hasn't been on TV for about three years," continues Simon. "The person I met recently, she looks better and is in a much better space than I've seen her before. She's a really good judge and that's the most important thing."
Cherly isn't the only popstar tipped to join the panel, as Rita Ora's name has also cropped up in recent reports.
Simon, who says that he "possibly" wants someone new to join the show, says he hasn't quite figured out who else he would like to be as a judge.
"I don't know yet because it's a really hard job and you've really got to know what you're doing," he tells us. "It's not just telling someone that they're good or bad. You really have to turn somebody into a star, and if you can't you will be exposed on this show."
Simon announced his return to the UK show hours before it was revealed that Fox would be pulling the plug on the US version.
In a statement at the time, Fox entertainment chairman Kevin Reilly said that "there is no X Factor USA without Simon Cowell."
But Simon says he isn't sad to leave the show behind. "It's going to be even worse this year in America than we thought," he says.
"There's three new competition shows launching this year in America and the whole market is going to eat itself. You have to get out of there for a while and then come back in."
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