Pepsi is back in business with BEYONCE KNOWLES, and it only cost them $50 million!

The Super Bowl XLVII half-time headliner will be featured in a new Pepsi commercial and several appearances for the brand.  By the way, this isn't the first time Beyonce and Pepsi have worked together.

The campaign will coincide with promotion for her next album, which has no release date but is expected in 2013.  Beyoncé will appear in a new TV ad — her fifth for the soft drink since 2002 — and her face will be on a limited-edition line of soda cans.

The multiyear campaign is estimated at $50 million.

HAYDEN PANETTIERE and her football player boyfriend SCOTTY McKNIGHT are officially broken up ... this according to sources close to the couple. 

The two broke up a couple of weeks ago ... but it wasn't a nasty breakup. We're told the two are still "really good friends."  We’ve all heard that before!!

Scotty -- who played for the NY Jets -- is the 2nd pro athlete Hayden has dated -- she was with pro boxer WLADIMIR KLITSCHKO for a year and a half starting in late 2010.

According to TMZ, PAM ANDERSON owes over $370,000 in unpaid taxes.  Two tax liens were reportedly filed against Anderson.

Anderson has been in tax debt before.  The actress was added to California's list of 250 residents with the biggest tax debts in 2010. At the time, she owed $493,144 in unpaid personal income taxes.

Cougar Town star BUSY PHILIPPS is pregnant with her second child. 

Her rep has confirmed the news that Busy and her hubby of five years, Marc Silverstein will be having their second child in addition to four-year-old Birdie.