Lily Allen is in talks to become the new Simon Cowell on the X Factor judging panel.

Allen fan Cowell has told his producers to “break the bank” to get the singer on the ITV show, according to The Sun.

But Lily isn’t sold yet. A source told The Sun: “Lily was flattered to get Simon’s call. It’s a big job and an honour to be asked. But she’s not convinced.

“She has tried to take a step back from the limelight over the last six months and doesn’t want to be thrust right back into the madness of the showbiz pantomime that comes with the show.

“She doesn’t need the money or the hassle at this stage in her life. Maybe in a few years’ time when circumstances change she will be more receptive.”

Lily is currently writing the score for Bridget Jones The Musical. She decided to take a break from the spotlight after losing her unborn child when she was six months pregnant.

Lilly Allen distress over miscarriage

The 25-year-old has bagged three Ivor Novello Awards for her songwriting as well as scooping Best Female at last year’s Brits.

The singer has also had two chart-topping albums and two No1 singles.

Cheryl Cole is set to leave the judging panel for the U.S version of the show.