The X Factor creator and judge was speaking about persistent rumours linking Spears to one of the vacancies on the Fox show's judging panel, following the recent departures of Nicole Scherzinger and Paula Abdul.
> Simon Cowell: 'X Factor USA doesn't need A-list judging panel'
"Well, I'm fascinated by her," Cowell told Billy Bush on KBIG-FM. "The fact that she's still one of the most talked-about - not just popstars, but people in the world today - means that you've got this star power.
"This girl's got resilience and the fact that she's survived this and she's still hot, she's still having hit records and she's still controversial... there's a reason for that."
When Bush said that he thought there was "no better" candidate for the X Factor USA panel than Spears, Cowell responded: "I would think that if she's managed to sustain in her family life a career which is tough, this is a walk in the park."
A succession of singers including Avril Lavigne, LeAnn Rimes, Beyoncé, Mariah Carey and Katy Perry have been linked with the X Factor USA judging vacancies.
Cowell has refused to comment on the speculation so far beyond confirming that both new panelists will be female.
However, he recently told reporters that he was "flattered" by reports of Spears's interest in the show.
Second season audition details for The X Factor USA are available at www.thexfactorusa.com.
Listen to Simon Cowell talking to Billy Bush below: