Pauly D -- I'm Getting a NEW Reality Show ... Not on MTV

SAYONARA MTV ... Pauly D hasn't accepted the network's offer to renew "The Pauly D Project" ... and sources tell us, it's all because he's getting poached by another network, for a lot more cash.

Sources close to the situation tell TMZ ... MTV -- the network Pauly has been with since 2009 -- wants to bring back his reality show for a 2nd season ... but he's not signing on anytime soon.

Our sources say the reason Pauly's dragging his feet -- he's been taking meetings with E! Network instead to discuss doing a show with them. And we're told ... E!'s offering a lot more coin.

We're told Pauly's close to inking a new deal ... he's already had 3 meetings about the project ... and E! is EXTREMELY interested in making it happen.

As for the show, our sources say it will focus more on Pauly's entire life, rather than just his DJ career.

So ... more gym shots?