Simon Cowell has launched a bid to export The X Factor to America, it's been reported.

The musical mogul is apparently in discussions with the Fox network to secure a deal that could see him make an extra £30million a year.

The US version could also see Cowell, Cheryl Cole and Louis Walsh, who all judge The X Factor in the UK, take the same position in America.

Paula Abdul, a former American Idol judge, is tipped to join them as the fourth member of the panel, The Hollywood Reporter claims.

Cowell already understood to make £30million a year from his role as executive producer on America Idol.

As part of his negotiations with Fox, Cowell is also said to be discussing extending his Idol contract for another two years.

The British version of The X Factor got under away earlier this month and is due to run until Christmas.