UPDATE (9/13/13): "The story of Liam Hemsworth and January Jones is entirely fabricated by Us Weekly," Liam's rep tells E! Online. "There is no truth whatsoever to this tabloid fiction."

Original story (9/11/13):

Miley Cyrus
's musical career might be taking off, but her engagement to Liam Hemsworth might be crashing if a new Us Weekly report is true.

The magazine claims that Liam is now sexting Mad Men star January Jones, having previously reported that the two actors also made out at a party in February. "I wanna [expletive] you," one such alleged text reads.

According to Us, the relationship between Miley and Liam is done. "[They] haven't officially split, but it's over," a friend of the couple tells the magazine. "It's just that neither wants to pull the trigger."

But news of Liam's reported flirtation with January could be salt in the wound for Miley, according to the source. "Miley doesn't want to believe there could be anyone else."

Rumor has it that January has been consoling Liam over Miley's morph from "Disney princess" to "wild child." A rep for January Jones, meanwhile, characterizes those reports as "absolutely untrue."

The sources also say that Miley and Liam have been dragging their feet in calling off the engagement because their living situation is so ideal and since they are hardly ever home at the same time. Miley is preoccupied hyping her new album, Bangerz, and Liam is busy with his work on the Hunger Games franchise.

Here's hoping for a definitive breakup or makeup, because all this drama is hard to watch unfold!

Do you believe the rumors? Let us know below!

Source: Us Weekly (Sept. 23 print edition), E! Online


Dan Clarendon is an assistant editor at Wetpaint Entertainment. Follow him on Twitter and Google+!