Menounos has willingly decided to leave the show, and reports of her being fired are false, a source says.
"She was not fired. She wasn't ousted," the source tells PEOPLE. "No one is pushing her out."
And rumors of a rift between Menounos, 35, and Lopez, 40, are also untrue, according to the source.
"There's no Mario-Maria thing. She has no problem with him. She's fine with her co-host."
The source adds, "It was a mutual understanding" between Menounos and Extra to part ways. "She's exploring a few options right now. There was absolutely no drama."
The Greek beauty also stars in her own reality show, Chasing Maria Menounos, which premiered on the Oxygen network last week, and features her boyfriend of more than 15 years, Kevin Undergaro, and her parents, Costas and Litsa.
Reporting by MARY GREEN