A healthy-looking Britney Spears was recently snapped looking tanned and toned while vacationing in Cabo -- and the pop mom is said to be making big bank off her bangin' bod!

According to Page Six, Britney's white bikini photo op was "set up by her camp," reveals a source. "Brit has brokered a series of shots that she's offering exclusively to a celebrity weekly for $1 million." Her reps insist that Brit isn't raking in the photo dough by selling saucy pix.

Those pix may not mark the end of the "Piece of Me" singer showing some skin -- the net is buzzing with rumors that Quentin Tarantino has allegedly signed Brit to play a killer lesbian stripper in his new flick!

Click on an image to view the BRITNEY SPEARS photo gallery!