Simon Cowell Exclusive: Breaking 'X Factor' News

"X Factor" creator Simon Cowell talked with "Extra" correspondent Terri Seymour about what his upcoming FOX show really needs.

"Groups, groups, groups," explained Cowell. "Everything in pop music goes around in a circle. Just because there isn't a Spice Girls or a Destiny's Child or an N'Sync around now, it's time for a group like that again. It's the right time, 100 percent."

He continued, "Imagine if a group of friends who look like Justin Bieber decided to form a group -- what an effect that would have."

But if you want to be that next pop group, you'd better hurry. Final auditions are "May 25 and 26 in Dallas at the convention center," said Cowell. "I am encouraging more groups to turn up mainly because they're going to have a real shot. This is the final chance. You got gotta get out there to be noticed, to be different."

For more information on how to audition with MyStudios, click here.

"The X Factor" premieres on FOX in the fall.