By . James Leyfield . and Sarah Bull . PUBLISHED: . 17:53 EST, 10 March 2014 . | . UPDATED: . 07:12 EST, 11 March 2014 . Cheryl Cole has revealed she is 'happy and excited' to make her return to The X Factor. The 30-year-old singer's return was announced on Monday night by music mogul Simon Cowell, who tweeted: 'It's official. Cheryl is back. Be careful what you wish for!' And in an official comment, Cheryl said: ''I’m very happy and . excited to be returning to The X Factor. I’m inspired and ready to find . new talent and potential pop stars. It’s going to be a fun series.' Cheryl's comment came after she posted a new shot of herself and Simon on her Instagram page, showing her with her hands around the mogul's neck. Scroll down for video . 'I'm back!' Cheryl Cole took to her Instagram account to confirm she is returning to The X Factor panel . She's back! Cheryl Cole and Simon Cowell on The X Factor panel together in December 2010 . She captioned the shot: 'GUESS WHAT!!.. I'm baaaacccckkkkk!!!! #iMayActuallyRingHisNeck #XFactor2014 #leggooo (sic)' The . news comes as it was reported that Cheryl has signed a £1.5million deal . to return to the show, which she was previously on the judging panel . for from 2008 to 2010. And Cheryl's bumper contract will reportedly be worth £500,000 more than any other judge on the programme except for Simon. Confirmation: Simon took to Twitter to reveal Cheryl will be returning to The X Factor judging panel this year . Are you looking forward to seeing Cheryl Cole back on The X Factor? The . music mogul reportedly earns more than £8million a year from both The X . Factor and Britain's Got Talent, on which he is also a judge, combined. According to The Sun newspaper, a friend . of the former Girls Aloud singer said: 'This is nothing to do with the . money. She loves the show and has unfinished business.' Cheryl . and Simon fell out when he fired her from the panel of the US version of the show three years ago, but they are . reportedly set to appear at a press conference on Tuesday to confirm her . re-appointment to The X Factor panel. Make up: Simon Cowell and Cheryl Cole (right) on The US X Factor with Paula Abdul . A friend of Cheryl added to the newspaper: 'Simon has been begging her to go back for years. But only now is the time right. 'She feels like a different person to the last time she was on the show — she can finally be happy.' Simon - who was a judge on the show from 2004 to 2010 - has also confirmed he will reprise his role on the panel this year. Team work: As well as Simon, Cheryl previously worked alongside Louis Walsh (left) and Dannii Minogue (second left) on the judging panel . Big reunion: Cheryl (second right) appeared on the panel from 2008 to 2010 before moving to the US X Factor . He . said in a press release: 'I am so happy that Cheryl has agreed to join . The X Factor again. The last time we worked together in the UK was . incredible and produced some really successful artists. Obviously the . plan is to do the same again... so it's back to work!' Simon is said to have . spent the last few months trying to convince the singer to return to the . programme and finally got his way when she reportedly negotiated a deal . in private last week. It . has so far not been confirmed as to who will take up the remaining two . judges seats but the new series is set to return later this year. Despite . previously announcing he was not returning to the judging panel in . 2014, Louis Walsh is a huge favourite with bookmakers Paddy Power at . 1/50 to also reprise his role as a panellist this year. Back together: Simon is said to have been trying to convince Cheryl to return to the panel for the past few months . What's more, Cheryl's bumper contract will reportedly be worth . £500,000 more than any other judge on the programme except for Simon. The music mogul reportedly earns more than £8million a . year from both The X Factor and Britain's Got Talent, on which he is a judge, . combined.What's more, Cheryl's bumper contract will reportedly be worth £500,000 more than any other judge on the programme except for Simon.The music mogul reportedly earns more than £8million a year from both The X Factor and Britain's Got Talent, on which he is a judge, combined. He is said to have spent the last few months trying to convince the singer to return to the programme and finally got his way when she reportedly negotiated a deal in private last week. He is said to have spent the last few months trying to . convince the singer to return to the programme and finally got his way when she . reportedly negotiated a deal in private last week.
Simon tweeted 'It's official. Cheryl is back. Be careful what you wish for!'
Cheryl then posted a new picture with the mogul on Instagram .
She is reported to have signed a £1.5million deal to return to the ITV show .
By . James Leyfield . and Sarah Bull . PUBLISHED: . 17:53 EST, 10 March 2014 . | . UPDATED: . 07:12 EST, 11 March 2014 . Cheryl Cole has revealed she is 'happy and excited' to make her return to The X Factor. The 30-year-old singer's return was announced on Monday night by music mogul Simon Cowell, who tweeted: 'It's official. Cheryl is back. Be careful what you wish for!' And in an official comment, Cheryl said: ''I’m very happy and . excited to be returning to The X Factor. I’m inspired and ready to find . new talent and potential pop stars. It’s going to be a fun series.' Cheryl's comment came after she posted a new shot of herself and Simon on her Instagram page, showing her with her hands around the mogul's neck. Scroll down for video . 'I'm back!' Cheryl Cole took to her Instagram account to confirm she is returning to The X Factor panel . She's back! Cheryl Cole and Simon Cowell on The X Factor panel together in December 2010 . She captioned the shot: 'GUESS WHAT!!.. I'm baaaacccckkkkk!!!! #iMayActuallyRingHisNeck #XFactor2014 #leggooo (sic)' The . news comes as it was reported that Cheryl has signed a £1.5million deal . to return to the show, which she was previously on the judging panel . for from 2008 to 2010. And Cheryl's bumper contract will reportedly be worth £500,000 more than any other judge on the programme except for Simon. Confirmation: Simon took to Twitter to reveal Cheryl will be returning to The X Factor judging panel this year . Are you looking forward to seeing Cheryl Cole back on The X Factor? The . music mogul reportedly earns more than £8million a year from both The X . Factor and Britain's Got Talent, on which he is also a judge, combined. According to The Sun newspaper, a friend . of the former Girls Aloud singer said: 'This is nothing to do with the . money. She loves the show and has unfinished business.' Cheryl . and Simon fell out when he fired her from the panel of the US version of the show three years ago, but they are . reportedly set to appear at a press conference on Tuesday to confirm her . re-appointment to The X Factor panel. Make up: Simon Cowell and Cheryl Cole (right) on The US X Factor with Paula Abdul . A friend of Cheryl added to the newspaper: 'Simon has been begging her to go back for years. But only now is the time right. 'She feels like a different person to the last time she was on the show — she can finally be happy.' Simon - who was a judge on the show from 2004 to 2010 - has also confirmed he will reprise his role on the panel this year. Team work: As well as Simon, Cheryl previously worked alongside Louis Walsh (left) and Dannii Minogue (second left) on the judging panel . Big reunion: Cheryl (second right) appeared on the panel from 2008 to 2010 before moving to the US X Factor . He . said in a press release: 'I am so happy that Cheryl has agreed to join . The X Factor again. The last time we worked together in the UK was . incredible and produced some really successful artists. Obviously the . plan is to do the same again... so it's back to work!' Simon is said to have . spent the last few months trying to convince the singer to return to the . programme and finally got his way when she reportedly negotiated a deal . in private last week. It . has so far not been confirmed as to who will take up the remaining two . judges seats but the new series is set to return later this year. Despite . previously announcing he was not returning to the judging panel in . 2014, Louis Walsh is a huge favourite with bookmakers Paddy Power at . 1/50 to also reprise his role as a panellist this year. Back together: Simon is said to have been trying to convince Cheryl to return to the panel for the past few months . What's more, Cheryl's bumper contract will reportedly be worth . £500,000 more than any other judge on the programme except for Simon. The music mogul reportedly earns more than £8million a . year from both The X Factor and Britain's Got Talent, on which he is a judge, . combined.What's more, Cheryl's bumper contract will reportedly be worth £500,000 more than any other judge on the programme except for Simon.The music mogul reportedly earns more than £8million a year from both The X Factor and Britain's Got Talent, on which he is a judge, combined. He is said to have spent the last few months trying to convince the singer to return to the programme and finally got his way when she reportedly negotiated a deal in private last week. He is said to have spent the last few months trying to . convince the singer to return to the programme and finally got his way when she . reportedly negotiated a deal in private last week.
Cowell, who tweeted: 'It's official. Cheryl is back. Be careful what you wish for!' And in an it was reported that Cheryl has signed a £1.5million deal . to return to the show, which