steventyler.jpgCourtesy: FOX

American Idol producers have made it official ... Aerosmith's Steven Tyler and Jennifer Lopez will be sitting alongside Randy Jackson at the judges' table for season 10.

At a press conference this morning at the Los Angeles Forum, Idol host Ryan Seacrest made the big announcement.

Lopez told the crowd, "I'm looking for the next Michael Jackson. We're looking for the best American Idol ever."

JLo reportedly is getting paid $12 million for her Idol role. Tyler's salary has not been revealed, but sources close to production say it's "well into seven figures."

AI season 10 will begin airing in January.