Both stars have offered Cheeza huge roles in the upcoming shows, and either one is sure to boost her career.
Will.i.am said earlier this week he wanted to get Cheryl to perform on The Voice in order to "p*ss off" Simon, but sources claim Cheryl's back on terms with the music mogul now.
"Cheryl was devastated by what Simon did to her last year over US X Factor but that's ancient history now and she doesn't bear a grudge against him," a source tells Reveal magazine this week.
Meanwhile, there's likely to be some empty seats on this year's X Factor judging panel that Cheryl could fill.
But the source continues: "That said, she's still hugely loyal to Will. He had her back when everyone else was standing by to watch her fall, and he gave her the strength to get through the storm.
"Will totally rebuilt her confident because it was shattered until he stepped in."
The insider added: "Choosing between the two most important men in her life - her ex Ashley Cole aside - is like torture for her. She simply cannot do it."
Which, if any, do you think Cheryl should choose?