Jennifer Lopez and Aerosmith's Steven Tyler will be joining Randy Jackson at the judges' table when American Idol kicks off season 10 in January.
"I'm looking for the next Michael Jackson," Lopez said before a screaming crowd at the Los Angeles Forum after Ryan Seacrest introduced her. "We're looking for the best American Idol ever."
The announcement was made during a live press conference Wednesday. Seacrest hosted the event, telling the crowd, "We are looking for the next star in music. We usually ask, who will be the next American Idol? We never asked this question, who will be the next judges on American Idol?"
Seacrest then introduced Randy Jackson, who told the crowd, "We found some unbelievable talent and I am calling season 10 the remix, baby!"
Up next, Tyler was introduced as a "rock legend." The Aerosmith frontman said joining the Idol family feels "fabulous."
"[It] feels like the perfect feathered nest," he said. "It's being a part of something much bigger than yourself. I want to bring some rock to this roller coaster."
Lopez, who dressed in a silver pant suit, was the last to be introduced.
"I love you guys. I am so excited," she told the crowd that included Idol hopefuls, there to try out for the show. "It is about concentrating in the moment, do the best you can. Just live! Just live, it's your moment."
The announcement comes with little surprise. In weeks leading up to the decision, sources told PEOPLE Lopez signed the deal worth $12 million. And Tyler himself said he would "probably" be a judge when the show returned in the winter.
Reporting by JESSICA HERNDON, DAHVI SHIRA and CYNTHIA WANG