The long-standing judge admitted the former Pussycat Doll may not sign up for the 14th series of the ITV talent show, after being considered for a Hollywood role.
However, he already has an idea for a suitable replacement, in the shape of a former judge.
Speaking to The Mirror, Louis said: “Nicole might be getting a big movie like ‘Wicked’.
“If [Nicole doesn’t come back] Mel B would be a good idea for the panel.
“Mel is on the US show with Simon [Cowell],” he added of their partnership on ‘America’s Got Talent’.
He was quick to assure fans he would be back on the panel though, having previously been axed from the line-up in 2015.
“I am signed for the next two years on ‘X Factor’ so I am okay,” he said. “The show lacked energy when I was not there and Simon knew.”
One person we know for sure he won’t want to see back as a judge is Cheryl.
‘X Factor’ boss Simon Cowell recently admitted he was resistant to changing the panel again, after the line-up of him, Louis, Nicole and Sharon Osbourne proved a hit last year.
The original line-up: Sharon Osbourne, Simon Cowell and Louis Walsh (credit:ITV)
Series 4 (2007)(02 of11)
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All change: Dannii Minogue joins Simon Cowell and Sharon Osbourne, with Brian Freidman replacing Louis Walsh.Dermot O'Leary also replaces Kate Thornton as the show's host.
Series 4 (2007)(03 of11)
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The return of the Walsh: Louis makes a comeback after Brian Freidman is axed from the panel after only a few days of auditions.
Series 5-7 (2008-2010)(04 of11)
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The golden era: Cheryl Cole replaces Sharon Osbourne, joining Simon, Dannii and Louis.
Series 8 (2011)(05 of11)
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A mass exodus: Gary Barlow, Tulisa and Kelly Rowland join the only original remaining judge, Louis Walsh.
Series 9 (2012)(06 of11)
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Schermazing: Nicole Sherzinger replaces Kelly Rowland, joining Gary, Tulisa and Louis.
Series 10 (2013)(07 of11)
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She's BACK! Sharon Osbourne rejoins the panel after five years, replacing Tulisa and joining Louis, Gary and Nicole. (credit:Rex)
Series 11 (2014)(08 of11)
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REUNITED: Simon and Cheryl return alongside Louis Walsh and new judge Mel B. (credit:Syco/Thames/ITV)
Series 12 (2015)(09 of11)
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Bye bye Louis: Nick Grimshaw and Rita Ora replace Louis and Mel, as they join Simon and Cheryl on the panel. Meanwhile, Caroline Flack and Olly Murs step into Dermot's shoes as hosts. (credit:Twitter)
Series 13-14 (2016-17)(10 of11)
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A vintage line-up: Nicole, Louis and Sharon all stage sensational returns to the panel after the departures of Cheryl, Nick and Rita, while Dermot also returns as host. (credit:ITV)
Series 15 (2018)(11 of11)
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WTF?! Louis Tomlinson becomes the first former contestant to join the panel permanently, while Robbie joins the panel alongside his wife and 'Loose Women' panellist Ayda Field. (credit:Doug Peters/EMPICS Entertainment)