Yep, it's official! Simon Cowell is leaving "American Idol" to work as an executive producer and judge on the American version of "The X Factor."

Simon announced the news this morning in a press conference, saying it's time for him to move on.

"I was offered a lot of money to stay on. But that wasn't the reason behind it. I wanted to do something different. I wanted a new challenge.  Right now America needs a second show, and I'll put my heart and soul in this ... I want to leave Idol this year bigger and better than ever before. I hope it'll be higher [rated] than it was last year."

I say he's starting to see Idol as a joke since they brought Ellen on as a judge. What are we going to do without Simon and Ryan Seacrest flirting with each other? It's never going to be the same.