Rumors have been circulating for a while as to whether Leonardo DiCaprio and Blake Lively are Hollywood's newest couple.

The two were recently spotted getting cozy on a yacht in Cannes. DiCaprio greeted Lively with a long hug. He entertained Lively, Steven Spielberg and Lukas Haas on a boat off the coast of Cannes. The pair might not have been alone in this incident but they have been spotted together a number of times over the last few weeks. Just recently, it was reported that DiCaprio spent the night with Lively in New York before jetting off to the 64th Annual Cannes Film Festival.

Both DiCaprio and Lively are newly single. Lively split from her Gossip Girl co-star and boyfriend, Penn Badgley at the end of last year. Last week DiCaprio and his longtime girlfriend Bar Rafaeli also ended their relationship.

Rafaeli was seen walking the red carpet at the premiere of The Beaver alone.