Cameron Diaz and Tom Cruise attend the UK Film Premiere of 'Knight And Day' at Odeon Leicester Square on July 22, 2010 in London, England. Credit: Mike Marsland/

Tom Cruise and Cameron Diaz are close, but not as close as the tabloid Life & Style would like its readers to believe.

The Rock of Ages actor, 50, was recently romantically linked to the What to Expect When You're Expecting actress, 40; Cruise split with wife Katie Holmes, 33, in late June after five years of marriage. (The Romantics actress won primary custody of their daughter, Suri, 6; they currently reside in New York City.)

"It's false," Cruise's rep told E! News of reports he's dating Diaz. "They are friends."

Cruise and Diaz have starred in two films together: Cameron Crowe's Vanilla Sky (2001) and James Mangold's Knight and Day (2010). Working with Cruise has always been enjoyable for Diaz, whose exes include Jared Leto, 40, Justin Timberlake, 31, and Alex Rodriguez, 37.

"He has a very high standard," Diaz said on the Oprah Winfrey Show in 2010. "So that's a wonderful thing. That's what you know you're getting when you're working with Tom. You know that you're getting someone who is dedicated to bringing the best product forward possible, and to do that, you have to be engaged in the process."

Like Diaz, Cruise is currently single. He was previously married to Mimi Rogers, 56, and Nicole Kidman,  45.