The Doc, currently working on a new primetime series of his own for ITV, revealed that Simon Cowell, Nicki Chapman and Pete Waterman have already agreed to return after the two-year gap.
"It's a great show so I am very excited about it," Foxy told the Daily Star. "It's great because I get to sit back with my mates and have a laugh. You really do get to see some bad acts, it's hilarious."
There had been speculation over the show's future following the chart failure of most recent winner Michelle McManus, as well as Simon Cowell's occupation with the American version of the series.
"Pop Idol is ideal for finding new talent," Fox added. "Just look at Will Young, he is still around three years on from winning the competition. We need another one like him."