(CBS) Miley Cyrus is ready to hang up her blond Hannah Montana wig.

Cyrus’ father and co-star Billy Ray Cyrus announced there will be just one more season of the show that made his daughter a star, Early Show national correspondent Hattie Kauffman reported Tuesday.

Lynette Rice, a senior writer for Entertainment Weekly told CBS News, “(’Hannah Montana’) started off as this little show that could, but then it just exploded into something huge.”

“Hannah Montana” tells the story of a teen pop star who tries to live a normal life by keeping her identity a secret.

Kauffman asked Cyrus recently if her life is a little like her character’s, and Cyrus said her life is “so much like it.”