Nicole would join the show alongside Sharon Osbourne, Louis Walsh and himself, according to reports.
The Daily Star on Sunday newspaper claims that Simon has offered Nicole, who previously appeared as a judge alongside Louis, Sharon and Gary Barlow, a big offer.
It's after she supposedly turned down the show in order to appear in musical Cats.
“ITV bosses, Simon, Sharon and Louis all agree Nicole would be the perfect person to join the line-up," a source sad today. “Not only is she glamorous and gorgeous, which obviously helps with the press, she also gets on well with everyone.
“Nicole and Sharon are good friends, and Louis and Simon are both big fans.”
It all leaves Rita's spot in the panel now looking to be in real doubt.
The former coach of The Voice UK has yet to confirm her intentions after both Cheryl and Nick Grimshaw announced they had quit the show.
Although her potential fellow judges have their strong opinions on what should happen: Both Louis and Sharon have backed Nicole over Rita.
“I’d prefer Nicole. Nicole would be amazing. She’s fun," Louis said while Sharon recently claimed Rita wasn't "accomplished" enough to be a judge.
However as yet NO contracts have been signed and nothing has been officially confirmed.
"No decisions on the panel have yet been made," a spokesperson for The X Factor said.
The X Factor 2016 will air on ITV this year, hosted by Dermot O'Leary who replaces Olly Murs and Caroline Flack.