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Simon Cowell and Carmen Electra

Carmen Electra has the X Factor!  After much speculation Simon Cowell finally confirmed to Ryan Seacrest Wednesday that he's dating Carmen Electra -- but they're not exclusive. 

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"She's not my girlfriend," Cowell, 53, explained when he called in to "On Air with Ryan Seacrest." "We're people who date."

Exclusive or not, the "X Factor" judge is smitten with Electra.

"She's adorable, isn't she?" he asked Seacrest of the 40-year-old actress/model.

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And the feeling is mutual.

When rumors began swirling Electra was dating the music mogul in November, she opened up about their relationship on "Access Hollywood Live." "He's so cute. He is adorable. He's actually a sweetheart," the former Baywatch star explained. "The thing is, we worked together on 'Britain's Got Talent.' I was a guest judge and I had so much fun. I really liked him. I think he's really cool." 

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Electra ended her four-year engagement with Robert Patterson earlier this year, and Cowell ended his two-year engagement with makeup artist Mezhgan Hussainy also earlier this year.