Auditions for Simon Cowell's new talent competition 'The X Factor' will kick off March 27 in Los Angeles, and in the meantime, suspense is building about just who will be seated at the judges' table.

Cowell made the first announcement last week, confirming that famed music producer Antonio 'L.A.' Reid has agreed to sit alongside him on the panel when the series launches.

Now, sources are floating two new names, charismatic young singers and headline-makers who are allegedly in the running to join 'X Factor': Nicki Minaj, 26, and Taylor Momsen, 17.

An insider tells the New York Post that Minaj met with Cowell in Los Angeles recently to discuss appearing on the series. "Nicki has a large following and she fits well with the ethos of the show, which plans to usher in a new generation of musical talent," explains the Post's source. "'X Factor' is aiming for a younger audience...This isn't a done deal yet, but Nicki would be great for the show. She fits the idea that 'X Factor' will be exciting, vibrant and different. And the show would also be great for her career."