The multi-millionaire is in talks with the Fox network (which airs American Idol) to transfer the mega successful X Factor from the UK to the US with Cheryl as one of the judges.
Simon has spoken of his desire to take The X Factor to America in the past but couldn't while still under his American Idol contact (which ends this year).
However, according to Hollywood Reporter magazine, it may soon be a reality.
It's still early days as a deal has not yet been finalised but discussions are under-way and we're pretty sure Simon Cowell usually gets what he wants.
By Georgie Hindle