It's still one of the most popular shows on TV so I doubt it will be axed (I don't think he meant that), but it will probably end very soon. 10 years is a long time.
Not even a slight chance of that happening. It's still one of the biggest shows on TV and there's no way that ITV will let go of that cash cow any time soon, the ratings will need to plummet a lot further before the show's considered worthless. (Unless Simon and co can come up with another replacement, like when Pop Idol ended to be replaced with The X Factor.)
I do expect some sort of rebooting next year though - Perhaps a return to the (superior) small room, acapella auditions?
But 8 million is still like the most watched TV show anyway. Louis, stop talking nonsense ITV make **** loads from it! They won't have it axed. They need to get GOOD judges. Nicole Scherzinger just brings no interest to the show from the UK!