Simon Cowell And L.A. Reid Discuss 'X Factor' Rumors

Cowell tells Ryan Seacrest that the TV talent competition's final two judges may be revealed 'in the next week.'

Simon Cowell called in to his former [url id="/news/topic/american_idol/index.jhtml"]"American Idol"[/url] buddy Ryan Seacrest's radio show on Wednesday morning (March 23), and in between zinging each other — Simon, for instance, sarcastically suggesting "Idol" needs more mentions that this year's talent is the best ever, because 16 times isn't enough — the duo dished a bit of news about the Brit TV personality's upcoming reality competition, "The X Factor."

While rumors continue to swirl about who will join Cowell and former Island Def Jam chief L.A. Reid on the judging panel, Simon disclosed that he's eyeing two hosts for the show, much like "Idol" during its first season. Unlike "Idol," though, which featured Seacrest and Brian Dunkleman during its inaugural season, "X Factor"

is targeting both a male and female host. "I think on this show it would be helpful to have two," Cowell said.

While Cowell had no announcements to make about the other judges that will be joining the panel, he did say news will be coming shortly. "Maybe in the next week we're going to announce the final two," he revealed.

And what about those Nicki Minaj rumors? When Reid joined the conversation and Seacrest asked about a possible meeting between Reid and Minaj, the ex-label boss playfully stumbled though his words and said any such meeting would have nothing to do with "X Factor."

"We've got to find people who we like," Cowell said about other judges. "You've got contracts, you've got dates, you change your mind, you meet new people. Literally just today, somebody else's name has come into the frame. It happens."

Cowell, of course, didn't mention who that new person was. But, he said, the new judge has got to be someone he trusts, much like Reid, who he's known personally and professionally for a long time. "Simon and I have been friends for many, many years," Reid explained. "When I met Simon, I thought he was a huge star, and if he could sing, I would have signed him ... One day, Simon reached out to me [about joining 'X Factor'] and, Simon, your exact words were, 'Are your ears burning?' "

Who would you like to see on the 'X Factor' judging panel? Tell us in the comments.