Simon Cowell offers Beyonce $500 Million Dollars to join X Factor!

Mediatakeout.com reports Simon Cowell allegedly called the new mum on her Video Phone and offered the singing superstar $100 million a year, for a five year contract with X Factor USA.

The website claims the news comes from an "extremely reliable insider" - the very same source who revealed Jennifer Lopez was joining American Idol in 2010.

"[Cowell] wants a big name female star on the panel," the source told the website.

"Mariah [Carey] is good, but she's not that hot today. He wants Beyonce because that would immediately give him the bounce needed to beat American Idol."