There's been a lot of rumors flying around about who will join the great Simon Cowell on his new competition show, 'The X Factor.' Sources tell PEOPLE that Jessica Simpson is a front-runner.

"There [are] loads of conversations happening at the moment," the source tells the magazine. "No one has been offered a judging role yet as new names keep coming forward who want the role, but there are some front-runners, and it's fair to say Jessica is one of them. She's very keen."

The source continued: "She knows what she is talking about [and] is talented and likable. But Simon's not in a rush to decide. The judges have to mentor on 'The X Factor' -- it's more than just turning up for a few hours a week to appear on TV."