There have long been rumors that Katie Holmes and Jamie Foxx are linked romantically ... so are they actually an item?
In this week's issue of PEOPLE, multiple sources confirm the pair have been spending time together for well over a year – but it's nothing serious.
"This is not some intense romance," a source with knowledge of the situation tells PEOPLE. "Jamie and Katie are friends and have been for a long time. They are two adults who are attractive and single, and so apparently conclusions will be drawn."
Adds the source: "But contrary to those conclusions, they're not about to run off and make some serious commitment."
The actress, whose new drama Mania Days premiered at SXSW over the weekend, bought an L.A.-area home in August and moved there with daughter Suri, 8.
An insider tells PEOPLE Holmes, 36, has been spotted visiting Foxx, 47, "often" at his nearby home and that "they spend hours together" at a time.
While sources don't expect Holmes to take things to the next level with Foxx, she's open to another serious relationship one day.
In her November cover story, she told PEOPLE she "absolutely" still believes in love, adding: "I'm a very loving person. Of course I'm open to finding love again."
For more on Katie Holmes and Jamie Foxx, pick up the new issue of PEOPLE, on newsstands Friday
With reporting by PERNILLA CEDENHEIM