The time has finally arrived!

OK! NEWS: BRITNEY SPEARS X FACTOR COMEBACK

After many months of anticipation, Britney Spears, Demi Lovato, Simon Cowell and L.A. Reid began the first round of The X Factor auditions at the Erwin Center in Austin, Tex. today.

What do you think of Brit's hot pink dress? Good choice?

OK! NEWS: BRITNEY SPEARS X-FACTOR MAKEOVER

The pop princess Tweeted this morning: "So excited to be going to Austin this week for @TheXFactorUSA auditions!"