Olly Murs addresses speculation that he will present The X Factor

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Olly Murs has opened up about rumours suggesting he will take over Dermot O'Leary's role as presenter of ITV show The X Factor. The singer has been widely tipped as the new host of the entertainment show after Dermot announced he was stepping down on Friday, but Olly insists he's ignoring the speculation.

Speaking during the unveiling of his new waxwork at Madame Tussauds, he said: "It's rumours. Everyone is speculating about it. I have presented The Xtra Factor before with Caroline [Flack] and I loved it.

"Caroline is great. We worked together years ago and we loved it. Every year there is speculation that I am going to do The X Factor, as a judge or presenter, and I just ignore it."

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Olly Murs said he has ignored speculation that he will host The X Factor

Dermot announced that he was leaving his role on the show after "eight wonderful years" in a series of tweets on Friday afternoon.

"Good afternoon. After eight wonderful years on @TheXFactor it's time for me to move on," the 41-year-old wrote. "I'd like to thank ITV, Simon, The X Factor family and particularly the viewers, all of whom have been a big part of my life for so long."

Olly, who rose to fame after appearing on the show in 2009, admitted that he will be sad to see Dermot go.

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Olly Murs struck up a friendship with Dermot O'Leary after appearing on the show

"It's so sad to see him leave. Dermot was there for me from day one. Dermot is a personal friend of mine and is someone I get on really well with.

"I have known him since 2009 when I did the show as a contestant. It is obviously a massive shame, he has done an incredible eight years but I think it is now time for a new chapter."

Dermot is not the only person who could be leaving the long-running show. Cheryl Fernandez-Versini and Louis Walsh are also speculated to be leaving the judging panel as Simon Cowell is reportedly auditioning potential replacements in a bid to revamp the programme.

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