Despite K-Pez's previous confession that herself and R-Pattz are such good pals she even farts in front of him, The Sun reports that they've sent the rumour mill into action again after spending a lot of time together at the Californian music festival.
Following her split from John Mayer and the end of his romance with Kristen Stewart, a source told the tabloid: "The pair had a fling a year ago but they went their separate ways after John wooed Katy back and Kristen made it clear she that still wanted her Twilight co-star.
“But things have gone cold with R-Patz and K-Stew since, with them both deciding it’s time to move on.”
They continued: “Katy and Rob are the best of friends with a very strong sexual chemistry. They care a lot about each other but have always been careful not to upset Kristen.
“But Kristen’s off doing her own thing and accepting it’s time for both of them to move on. Katy and Rob have been hanging out all weekend and making plans for Easter, too.
“Friends genuinely want to see them get it together properly. They think they bring out the best in each other.”
Bookies have since slashed the odds on Katy and Rob tying the knot, stating: "Kristen Stewart doesn’t seem to be getting a look-in. It is 7/4 for R-Patz and Perry to confirm they’re an item by the end of 2016 and 6/1 for Rob to put a ring on Katy’s finger.”
Jared Leto is second favourite to walk Katy down the aisle at odds of 10/1, while Taylor Swift has been named as the next fave to win Pattinson's heart.