Billboard.com has issued the following report from Ann Donahue:

As widely expected, the judging lineup for American Idol season 10 will be Steven Tyler (AEROSMITH), JENNIFER LOPEZ and Randy Jackson, with Jimmy Iovine, chairman of Interscope Geffen A&M; Records, acting as an in-house mentor to contestants, with an assist from producers Timbaland and Polow Da Don.

The announcement was made before the Los Angeles round of auditions at the Forum Wednesday morning, an event that was glammed up with some smoke and neon lights - and sequins on Lopez's part - perhaps in order to distract from the fact the news was widely leaked weeks ago.

Each judge received an introductory clip reel before they were brought on stage to chat with host Ryan Seacrest; the several thousand auditioners in attendance sung along to Aerosmith's 'Dream On' and screamed their love for Lopez. "I'm so excited to be here, to work with you and to watch you grow during this journey we're going to go on," Lopez said.

Another excerpt from the report states: Tyler was a bit more cagey in response to rumors that his "Idol" judgeship was causing a rift with his Aerosmith bandmates. "At first they were jealous, they heard it through the press and not through me," he said. "And I was like, 'Four months ago you were looking for another lead singer.' Things go up and down. I've been on tour with these guys for 40 years...It's a real journey with those guys and they would say the same thing about me."

Read the full report at Billboard.com and check out the video announcement below: