LOS ANGELES (CBS) — So you think you can sing? Simon says your shot at stardom is here.

Auditions for “The X Factor”, a new reality show singing contest hosted by former “American Idol” judge Simon Cowell, get underway this weekend in Los Angeles.

Cowell tells KNX 1070 after months of negotiations, there’s now talk about former-”Idol” judge Paula Abdul joining the show’s panel.

Cowell says the show has “thrown out the rule book” in its search for contestants with the goal of attractings as diverse — and entertaining — a group of rock star hopefuls as possible.

In addition to signing a professional recording contract, the winner of “The X Factor” will also get $5 million in prize money.

The competition is open to singers and vocal groups at least 12 years of age or older as of March 1, 2011 and who currently do not have a music recording contract.

Wristbands will be distributed from approximately 6:00 AM on Saturday, March 26 until approximately 6:00 AM on Sunday, March 27.

For more information and complete rules on the competition, visit “The X Factor” website.

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