"When she's single, she'll booty call him," alleges a source.
Diaz, 39, who's back on the market after her bust-up with Alex Rodriguez, was spotted dining with Diddy, 42, in a security-surrounded private booth at a New York eatery on Oct. 24.
They were "inseparable," says a spy. "They had their hands all over each other."
The twosome were supposedly equally touchy-feely during a Beverly Hills lunch date on Nov. 11, with an eyewitness asserting that they were "making out, acting romantic."
But People magazine has a different version of events, saying the meal was "business focused," and though Cam and Diddy dined alone initially, they were soon joined by another guy.
"Cameron and Sean are longtime friends and fans of one another's work," Diaz's rep pooh-poohs to the mag. "They have been seen together recently because they are developing a film project."
And what of Diddy's girlfriend of three years, singer-model Cassie, 25? Zings an insider, "Diddy's single whenever there's a better offer on the table!"