But, according to E!, they're hardly thinking about calling each other boyfriend or girlfriend -- or getting shark tattoos for the other person.
"She's having fun," a source told E! News.
While some have questioned whether this is a real-deal romance or a publicity ploy to draw attention to their new song, the source said everything is legit. Still, she's not considering Drake to be a potential serious boyfriend at this point.
Plus, the source thinks that her ex Casper Smart isn't totally out of the picture either -- the former duo doesn't speak as often as they used to, but they still have an open line of communication.
"I think she and Casper will get back together," the source added. "He's a great guy and she's knows it. They just need a break right now."
A separate source believes that Jlo and Casper are done for good.
Regardless, Casper probably can't like seeing his former love cuddling up with Drake, as they did at the Winter Wonderland prom on Thursday. There, the duo took pictures together, danced and even shared a quick peck on the lips.
The prom comes a few weeks after the rapper went to two of J.Lo's shows in Las Vegas and later rented out a Los Angeles restaurant for an intimate dinner.
"So far it's not what you would assume but it's pretty clearly going in that direction," TMZ said of the budding romance at the time, adding, "It's only a matter of time" before they become more than friends.