On Tuesday (Feb 4th), Simmons said that this weekend he would announce a proposed boycott against Pepsi. 

The Ludacris Pepsi ads were pulled after Fox News talking head Bill O�Reilly called for a boycott of the company due to their "immoral" decision to use the foul-mouthed rapper in their television advertisements. 

"The Hip-Hop Summit Action Network (HSAN) plans to announce and detail a proposed boycott of Pepsi during the NBA All-Star Weekend in Atlanta," a spokeswoman for Simmons and the non-profit hip-hop group he helped found, was quoted as saying in a Reuters report.

"The boycott is being called in response to Pepsi dropping Ludacris as spokesman and subsequently picking up the Osbournes, who are no less vulgar," she added.   (That's not exactly true, click here for a talking points memo on that claim.)

For their part, Pepsi is backpedaling on their decision to pull the Ludacris ads. 

A spokesman for PepsiCo Inc told Reuters that the Ludacris controversy was an unfortunate experience.

"It was our mistake, we learned a lot from it and we've moved on," the spokesman told Reuters.

"We respect Russell's interest in bringing hip-hop talent to a larger audience and we have worked together to do just that," he added.

In the end this may work to Pepsi�s advantage. Just look at all of the free publicity they will receive over this boycott. 

more on The Osbournes .