When you are the highest rated show of the fall on Fox, chances are the future is good. That is the case for Simon Cowell and the "X Factor." The singing competition show has been picked up for a third season, the network announced on Monday. "I couldn't be happier about The X Factor already being renewed for another season," Cowell said. "I am so proud of the show and the team who have made it this season." Cowell is a judge on the show along with Britney Spears, Demi Lovato and L.A. Reid.