Simon Cowell wishes he was gay because he would have saved a fortune over the years if he preferred to date men instead of women.

The 53-year-old media mogul, who is expecting his first child with Lauren Silverman following a passionate affair, said his womanising ways risked him going bankrupt and life would be easier if he just dated men instead, reported Contactmusic.

Asked if he had ever feared bankruptcy, he said, "Yes, particularly when I've had girlfriends like you lot! I said to someone the other day that I wish I had been born gay. I would have saved a fortune."

Cowell recently hinted that he might be ready to settle down and is considering tying the knot with his current girlfriend Lauren, who is said to be around three months pregnant, at some point in the future.

"I'm not ruling anything out in the future. If you asked me a year ago, at my age am I going to have a baby, I probably would have said 'no' so you've just got to take each day as it comes now. Whatever feels right you should do," he added.