The cat is out of the bag: Ben Affleck and Jennifer Lopez are definitely an item, PEOPLE reports in its latest cover story. In fact, says the magazine, on July 22, three days before she and her second husband, dancer Cris Judd, 32, filed for divorce, Lopez, 33, was already introducing Affleck, soon to be 30, as "my new boyfriend" to pals. That said, what lies ahead for the couple? Professionally, the two -- who met on the set of their upcoming crime comedy, "Gigli," last winter -- are set to costar as a married couple with a young daughter in the parenthood comedy "Jersey Girl," which starts shooting in Philadelphia in mid-August. Personally, things appear to be running smoothly. "Jennifer doesn't smoke or drink, and Ben is celebrating almost a year of sobriety, so it would make sense that being with her makes it easier for him," a source tells PEOPLE. Just don't expect wedding invitations. "They're dating today, but who knows about tomorrow?" says a close friend of Lopez's. "She wants the freedom to live her life."

Check out PEOPLE's cover story on Jennifer and Ben!