Reports over the weekend show Simon Cowell may have agreed to 5 After Midnight to his record label Syco Music.
A show insider told the Star on Sunday: 'The boys are overjoyed and can't believe they are signing to Syco. Simon has been a big fan of 5 After Midnight throughout the series.
'Out of all the artists he thinks 5AM have the biggest gap in the market to play with.
'There are very few boybands around at the moment and even fewer urban boybands who dance.'
The band seemed to hint at promising things to come as they posted a tweet on Sunday about 'exciting things' ahead.
On their official account, they penned: 'We cannot wait for the new year so many exciting things are happening!!! How's everyone's Sunday?x'
Syco are yet to officially confirm they have signed 5 After Midnight.
If this is true then the boys are the second act Simon Cowell has signed from this year's X Factor.
Honey G confirmed earlier that week that she had bagged a record deal with Simon's label Syco - sharing the news on Twitter before Sunday night's final.
She had been hinting at a deal with Syco for weeks, and finally announced the signing during the live final at the weekend.
Despite being voted off in Week 7, Honey G revealed her first single would be released on December 23.
In a surprise move Simon decided not to sign the winner Matt Terry this year. Instead Matt has sealed a contract with RCA Records, who are also under the Sony umbrella.
Will Matt get the Christmas number one? All will be revealed on friday.
