Just days after it was announced that judges Paula Abdul and Nicole Scherzinger and host Steve Jones will not be returning for the second season of X Factor USA, it appears that new mother Beyoncé is being enticed to take one of their coveted spots.

Simon Cowell has reportedly offered the 31-year-old superstar a staggering $500m (£315m) to sign up as a judge on the talent show.

According to celebrity website MediaTakeOut.com, Cowell is keen to get the world famous singer on board in a bid to boost the show's flagging ratings.

The programme, which launched in the US last year, proved a ratings flop and failed to compete with rival American Idol.

The media mogul recently admitted that he had been "too cocky" when the show premiered and has made no secret of his plans for a major shake-up in a bid to revive the series when it returns later this year.

An insider told MediaTakeOut.com: "[Cowell] wants a big name female star on the panel.

"Mariah [Carey] is good, but she's not that hot today. He wants Beyoncé because that would immediately give him the bounce needed to beat American Idol."

If accepted, the five-year deal will see the Countdown hitmaker earn a sweet $100m per year, making her one of the highest paid entertainers in the industry.

New mother Beyoncé, who last month gave birth to her daughter Blue Ivy with rapper husband Jay Z by her side, has some experience on the show after she appeared as a guest singer and mentor on the British X Factor back in 2008, when she performed a duet with Alexandra Burke.

Her best pal and former Destiny's Child bandmate Kelly Rowland was also a judge on the UK version of the show last year.