Say it isn’t so….there are rumors out there that Kara DioGuardi has been fired from American Idol.

TMZ is reporting that DioGuardi, who has been with American Idol since 2008, was given the ax – the same day Ellen DeGeneres announced she is leaving the show after just one season.

According to UsMagazine.com, Jennifer Lopez and Aerosmith frontman Steven Tyler will likely replace Simon Cowell, who left last season to headline an American version of The X-Factor.

With DioGuardi’s reported firing, the show will return to a three-person judging panel.

What do you think about DioGuardi leaving American Idol?? What about Randy Jackson, Jennifer Lopez and Steven Tyler as the three panel judges??