Simon Cowell announced today that this season will be his last one with American Idol.

The current AI judge is reportedly planning to take a new gig with the American version of British talent show, The X Factor. He’ll be signing on as a judge and executive producer on the new Fox show.

According to Simon, he was “offered a lot of money” to stay with AI, but decided to turn it down to “do something different”.

Sources say that Paula Abdul, who lost her job with AI last year, is currently also in talks to work as a judge on The X Factor.