What's Next for Simon Cowell?

Now that his time on "American Idol" is officially over, TV mogul Simon Cowell has set his sights on making his British hit show "The X Factor" a hit in America, too.

In an "Extra" exclusive, Cowell opened up to Terri Seymour about the new show.

"When your producing a show, you have to make a show you would want to watch," Cowell explained. "'The X Factor' is just a very extreme version of 'Idol,' where there aren't many rules and there's no upper age limit."

The show is looking for a debut in 2011. "In September or October, I am going to announce live on FOX the cities we've chosen for the 'X Factor'," Cowell said.

There real question is who will be joining him as a judge on the show? Cowell's former "Idol" colleague Paula Abdul was rumored to be participating, but now she has signed with CBS on a new dancing competition show, "Got to Dance."

"I saw somebody a week ago, who I am definitely going to hire and who is very well known. I think she's going to be incredible. Shall I tell you?" Cowell asked Seymour. When she replied yes, Cowell quipped, "I'm not going to tell you."

Who do YOU think should join Cowell's "X Factor" team? Sound off in the comments below.