L.A. Reid, Demi Lovato, Britney Spears and Simon Cowell

Fox has renewed The X Factor for a third season, the network announced Monday.

"I wanted you guys to be the first to know that FOX have confirmed that @TheXFactorUSA will be back next year for its third season," judge Simon Cowell tweeted. "It was important for you to be the first to know because it is thanks to your support and enthusiasm we are coming back."

The X Factor: Who should get cut? Who should advance?

This season, the singing competition is averaging 10.6 million viewers  and a 3.9 rating in the adults-18-to-49 demographic, according to Fox.

Are you looking forward to another season of The X Factor?