Celebrity reps have a habit of raining on the gossip mill's parade just as it starts to gain momentum.
According to E! News there is absolutely no truth in the reports that the old chums have changed their status to "in a relationship".
The rep said: "It's false. They are friends."
Rumbles of romance between fellow actors Tom Cruise and Cameron Diaz have been floating around for a few weeks.
Reports suggested that the pair had some fun together while both in the UK earlier this month.
The two were said to have had a "sexy date" after the 50-year-old popped into Cam's 40th birthday bash at Cowarth Park Hotel in Ascot.
[Related story: Tom Cruise is distancing himself from Scientology]
[Related story: Has Tom Cruise stopped communicating with Suri?]
Rumour had it that Tom had been using the leggy blonde to get over his sudden summer divorce from Katie Holmes.
Meanwhile in Camp Holmes, reports suggest that Katie has instructed friends she won't date anyone who is more than five years older than her.
Apparently the Dawson's Creek star wants someone far closer to her own age, after things collapsed with Suri's dad Tom.