Blake lively Pics & Photos blake lively leonardo Unbelieveable Love Story By Khawer

Newly single Leonardo DiCaprio was spotted Sunday in Portofino, Italy with Blake Lively.

DiCaprio, 36, and Lively, 23, were caught hugging on a yacht Tuesday during the Cannes Film Festival.

Earlier this month, sources confirmed to Us Weekly that DiCaprio and supermodel Bar Rafaeli, 25, ended their five year relationship.

So are things really over for the Oscar nominated actor and Rafaeli? "They do this every two years," a source pointed out to Us. "They could be back together next week."

Lively ended things with Penn Badgley, her beau of three years and Gossip Girl costar, in September 2010.

Credit: Us Magazine

Looks like Blake Lively and Leonardo DiCaprio may be teaming up for the movie adaptation of The Great Gatsby!

The two actors shared dinner with director Baz Luhrmann and his crew at NYC’s The Lion on Tuesday (November 2), according to reports.

Baz is set to bring F. Scott Fitzgerald’s classic book to the big screen with Leo reportedly playing the lead as Jay Gatsby.

Though Amanda Seyfried was rumored to be given the role of Daisy Buchanan, Blake is “being strongly considered,” reports Us Weekly.

WHAT DO YOU THINK of Blake Lively as Daisy Buchanan in The Great Gatsby?

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Leonardo DiCaprio shares a smile with Blake Lively as they spend time on a yacht on Tuesday (May 17) during the 2011 Cannes Film Festival in Cannes, France.

The 36-year-old actor checked messages on his cell phone as he had an animated conversation with his BFF Lukas Haas and director Steven Spielberg while aboard the boat.

Leo split from his girlfriend of nearly four years, Israeli model Bar Refaeli, earlier in the month.

10+ pictures inside of Leonardo DiCaprio and Blake Lively chatting while aboard a yacht in Cannes, France…

Now we don’t want to jump to conclusions, but given that Leonardo DiCaprio is sort of an expert in nautical romance we couldn’t help but get a bit excited when we saw these pictures of him and our girl crush Blake Lively canoodling aboard Steven Spielberg’s yacht in Cannes. They were also spotted strolling around the grounds of the super-posh Hotel du Cap Eden Roc, where onlookers confirmed that ‘they looked like a couple’. So it must be true.

It seems this one’s been brewing for a while. The pair were first introduced by Baz Luhrman when Blake auditioned for his new film, The Great Gatsby. She lost out to Carey Mulligan, but she it looks like she might have got a new megastar boyfriend as a consolation prize. He was recently seen leaving her New York apartment in the wee hours and apparently ‘Blake is exactly Leo’s type. He likes leggy blondes’ – you don’t say.
Leo’s hot ex-girlfriend

Awkwardly, Leo’s very recent supermodel ex Bar Rafaeli was also in Cannes this week. We were kind of hoping for a leggy blonde wrestling match but Miss Rafaeli seemed unfazed by his quick rebound as she strutted down the red carpet in a variety of show-stopping outfits. To be honest, if we looked like her we probably wouldn’t care that much either.