Report: Jennifer Lopez Signs $12M 'Idol' Deal

Jenny from the block can move even further uptown -- J.Lo has reportedly signed a one-year contract with "American Idol" -- and she'll be raking in around $12 million for her expertise, according to TMZ.

jennifer lopez

According to 'Idol' sources, Lopez's contract is a done deal -- and she's expected to join the panel next week to handle auditions.

The announcement comes following the departure of longtime judge Simon Cowell, and judges Kara DioGuardi and Ellen DeGeneres.