Simon Cowell has splashed out on his second "exclusive" Ferrari of the year.

Author Tom Bower detailed the music mogul's lavish spending habits in his book Sweet Revenge: The Intimate Life of Simon Cowell.

Bower's tome has described Simon's excessive spending, including ordering gardeners to replace the grass in his garden because it's "too smooth" - and now it looks like Simon is in no rush to change his ways.

"He's seemingly splashed out on a new silver Ferrari 458 Italia - just months after buying a similar black model for around 175,000," writes British newspaper the Daily Mail.

"The sleek silver vehicle was spotted parked outside his Los Angles mansion. The Ferrari 458 Italia is such an exclusive car that you have to join a waiting list of up to three years to obtain one."

The new vehicle boasts an impressive 4.5 litre V8 engine and has a top speed of 202mph.

Other stars lucky enough to own the luxury Ferrari include reality TV star Kim Kardashian.

Simon is currently promoting the new series of the US version of the X Factor, which features pop sensation Britney Spears on the judging panel.