Steven Tyler to Walk This Way to 'American Idol': Report

Aug. 18, 2010— -- "American Idol" may have found its savior in one Steven Tyler.

According to E! News, the Aerosmith frontman finalized negotiations late last week to serve as a judge on the tenth season of Fox's hit reality singing competition, which recently lost high profile judges Simon Cowell and Ellen Degeneres.

Fox declined ABCNews.com's requests for comment.

With his penchant for oddball fashion, Tyler would certainly serve as the spectacle "Idol" has lacked since Paula Abdul left her judge's seat in 2009. He has, however, had his share of recent problems. Last August, he tumbled off stage at a concert in South Dakota, injuring himself and forcing Aerosmith to cancel the rest of their summer tour. In December, Tyler checked in to rehab for a painkiller addiction, amid talk that the band was looking to replace him.

But Tyler has since gotten his act together, gotten back to performing (though he just fell off stage again, thanks to Joe Perry) and now, perhaps, is looking to expand his brand with "Idol," a franchise that could benefit from a boost of star power.

"Right now, it sounds very chaotic," M.J. Santilli, who writes MJs Big Blog about the show, told ABCNews.com following Cowell and Degeneres' exit. "You wonder about what's going on behind the scenes. Whether they can right the ship by the end of the month remains to be seen."

At the beginning of September, the judges are expected to take their places at the nationwide auditions. But we may not know who the judges are until the end of this month.

"No one has signed a deal on either side of the camera for anyone to come on to 'American Idol' who wasn't on it last year," Fox Entertainment chief Peter Rice told the media at a Television Critics Association executive session in Beverly Hills on Aug. 2.

Rice presumably is referring also to Nigel Lythgoe, the show's original producer, who left to create "So You Think You Can Dance." It's been rumored that he will return.