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Full-time daddyhood hasn't been very kind to Kevin Federline's waistline. In recent months, Britney Spears' ex-hubby has been cruelly labeled everything from K-Fat to K-WellFed, all because he's packed on a few (all right, maybe more than a few) extra pounds.

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But will Federline get the last (belly) laugh by making big bucks off his bulk? reports the onetime backup dancer-turned-lousy tipper has received a lucrative offer to become the spokesman for a new weight loss product.

The company behind the proposed deal is EP-2, or Extreme Physical Performance, and it's supposedly willing to shell out a whopping $2.5 million for the honor of having K-Fed endorse a fat-burning product that's soon to debut in more than 1,400 GNC outposts.

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"Yes, we're trying to do a deal with him," says a company spokesman, "but nothing has been confirmed yet."

Federline, who pockets $20,000-plus a month in child support payments from his former missus for sons Sean Preston, 3, and Jayden James, 2, is keeping his cakehole closed on the cash incentive to deflate his spare tire.

Still, we're starting to suspect that Kevin is a Ho-Ho-munching secret marketing genius who had this planned all along, because there seems to be an awful lot of interest in getting him back into shape.

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Last week, Radar reported that the producers behind K-Fed's in-development VH1 reality show have told him to drop 45 pounds during filming.

And they apparently expect him to do it the old-fashioned way, through diet and exercise, and have sicced a personal trainer on him.

"I put Kevin on a diet plan that consists of eating six meals a day, every three hours," explained the trainer. "It speeds up your body's metabolism and you start burning fat fast."

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