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Gywneth Paltrow reportedly signs a record deal

Gwyneth Paltrow arrives at the Vanity Fair Oscar party on Feb. 27, 2011, in West Hollywood, Calif. Getty

(CBS) Gwyneth Paltrow might be singing all the way to the bank.

Multiple outlets are reporting that the Oscar winner, who showcased her pipes on "Glee," in the film "Country Strong" and at recent award shows, has signed a deal with Atlantic Records believed to be worth $900,000.

Pictures: Gwyneth Paltrow

A source told the New York Post that people who have heard Paltrow's music described it as "country pop."

According to the report, her debut album is due out later this year.

If the rumors are true, Paltrow joins a roster at Atlantic that includes Sean Paul, B.o.B, T.I., James Blunt, Janelle Monae, Zero 7, Phil Collins and Kid Rock.

But she might not have signed on the dotted line just yet. Sources tell E! Online that Paltrow is currently being courted by record labels and has entered talks with Atlantic Records, but no deal has been inked yet.

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