After months of speculation, stops and starts, the worst kept secret in the entertainment business has been revealed. Britney Spears has officially signed her deal to be a judge on ‘X Factor.’

Last week, we reported that Brit had agreed to the terms and points of the deal and it was only a matter of formality for her to sign on the dotted line. Well, E! reports that the ‘Criminal’ singer has done just that and she is officially joining Simon Cowell and L.A. Reid as a judge.

The deal is reportedly for one year and worth $15 million. That’s a lot of scratch, but the gig entails more than just mentoring the contestants. It’s a grueling weekly commitment on the promotional side of things, to say nothing of the emotional investment in the hopefuls. With her experience in the pop music business and her warmth, Brit is the right woman for the job.

A source confirmed that “the contract is signed” and said “there’s been a lot of back and forth over the past few weeks as they negotiated the small details, but she’s on. It’s all completed and Britney is beyond excited.”

The insider, reportedly someone close to Brit Brit, stated, “She’s ready for this. She can’t wait to sit down next to Simon at the judges’ table and give this everything she’s got. She is excited about showing the world that she can do this, and do this well. This is the perfect next stage in her career. Both Britney and Simon are very excited to work together.”

Brit was last seen on the small screen in ‘Britney & Kevin: Chaotic,’ a let-it-all-hang-out reality show which chronicled her relationship with then-husband and baby daddy Kevin Federline.

One down, one to go. Who will fill the final slot on the panel? Who do you suggest, PopCrush readers?