"It's official! I'm a Housewife!"

With those five words, Emmy winner Eileen Davidson (Ashley Abbott, The Young and the Restless; Kristen DiMera, Days of our Lives) confirmed what everyone already knew: she will appear in the upcoming fifth season of the Bravo reality series The Real Housewives of Beverly Hills.

A report from Radar earlier this year hinted that Davidson's addition to the Housewives cast didn't come cheap. She'll reportedly make $750,000 to be part of the Housewives cast, and that's a record for a new cast member. By comparison, Nene Leakes, from the Real Housewives of Atlanta, reportedly earns about $1 million.

Soap-turned-reality-star Lisa Rinna (ex-Billie Reed, Days of our Lives) has also been added to the cast of The Real Housewives of Beverly Hills. In a trailer for the new season, Rinna explains why she's been a frequent reality star: "I'll do anything to make a buck."

Davidson and Rinna will take the place of former Housewives Carlton Gebbia and Joyce Giraud.

Eileen Davidson has had a remarkable career in daytime. She got her start in daytime as Ashley Abbott on The Young and the Restless in 1982. She had the opportunity to take her Y&R role to the show's sister soap, The Bold and the Beautiful. From 1993 to 1998, Davidson appeared on Days of our Lives and had the unique opportunity to play five different roles -- at the same time. In 1998, Davidson earned a Daytime Emmy nomination for her work. In June, Davidson was named Outstanding Lead Actress for her return engagement on DAYS.

Bravo has released a preview of what fans can expect from this season's Housewives when the new season premieres on November 18 -- and, like daytime, there's a lot of catfighting, some thrown drinks, and even a few slaps.

Will you be watching the Real Housewives of Beverly Hills now that Eileen Davidson's joining the cast? Tell us in the Comments section below or share your thoughts via Feedback by clicking here.