If you're wondering who is going to replace Katy Perry on American Idol now that she's announced this will be her last season, it seems as though Jennifer Lopez and Taylor Swift miiiiiight be contenders. When it comes to J.Lo, a source recently told the Daily Mail that she could be a good fit since people "like nostalgia" and—after all—she used to be a judge on the show!"

"A return from the past is on the cards," the insider explained. "J.Lo will be asked to come back. When people come back, things work...people like nostalgia, and people like Jen. It would be a big get to get her back." (Quick reminder that J.Lo was a judge on Idol during seasons 10 and 11, and then again from seasons 13 to 15.)

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That! Said!!! Producers are also considering a "younger voice" for the role. Enter: Taylor Swift.

"She will be offered the job," that same Daily Mail source mused. "That is a long shot. They are just thinking about what would be the best-case scenario, namely to get the biggest star in the world. But they aren't holding their breath on getting Taylor."

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Either way, Idol might also be mixing things up when it comes to judges Luke Bryan and Lionel Richie.

"The show could also go younger and have a younger voice in the mix, because if they keep Luke and Lionel, they want someone who is a bit of a firecracker," the insider dished. "They would consider changing the entire panel if need be, even though they love Lionel and Luke. Show host Ryan [Seacrest] has told higher-ups to go for someone that is out of the box if they do a complete overhaul. No one thought Steven Tyler was going to be what he was and he was a fun choice. Right now every option is on the table, it will take a few months to figure out full details and a replacement, but Ryan is having them think outside the box."

Apparently, judging on Idol is a gig a lot of celebs want, so it sounds like producers are holding all the cards here: "There are a lot of people who want this job, everyone will be considered, and they have a long time to figure it out...They are going to enjoy the ride and honor Katy's last year and announce her replacement around the finale or when they officially get the green light for a return next season."

Head below for Katy's announcement on her departure, which the singer recently revealed was news to her fellow judges!