Despite widespread reports of their split, Justin Timberlake and Jessica Biel continue to be photographed together. Could a reconciliation be in the offing?

Kind of.

A source tells Fox411 that despite appearances, the two are definitely not back together full-time. Instead, they are going the time-tested route of first seeing what its like being part-time lovers.

Yes, it appears Justin and Jessica are now "friends with benefits."

"Justin was very clear with Jessica that he didn't want to be in a serious relationship with her anymore where he wasn't able to date other people," says the insider. "Jessica took the news very hard, but once she calmed down and they started talking again, he convinced her to stay friends who hook up, without all the pressure of a relationship."

How did Timberlake succeed in persuading one of Hollywood's most beautiful women to agree to every man's (okay, almost every man's) dream scenario?

"At first she was very reluctant, but she missed him a lot and so she decided to give it a try even though it wasn't exactly how she wanted things to be," the source explains. "She's still in love with him, and they are still attracted to each other, so it would have been difficult for them to quit each other cold turkey."

The source says the new setup is a "win-win" for Timberlake.

"Justin gets the best of both worlds," says the source. "He doesn't have to lose Jess as a lover or a friend, but he's free to explore other [relationships]."

Sounds like a win-win-win.

source.

ot: ontd, how do you stop procrastinating D: i have to read a whole book for my test tomorrow. i'm so bad at this..