Flirting or Just Friends? Leonardo DiCaprio and Blake Lively Get Cozy in Cannes

Rebounding already?

Last week we reported that "Inception" star Leonardo DiCaprio and his supermodel girlfriend, Bar Refaeli, had amicably split after five years of dating. Now that the 36-year-old star is back on the market, it was only a matter of time until the rumor mill began swirling.

Welp, swirl it has, all the way from the 64th Cannes Film Festival in France. DiCaprio was spotted yesterday aboard Steven Spielberg and Kate Capshaw's yacht, hugging and laughing with "Gossip Girl" star Blake Lively.

The blonde duo were introduced by "The Great Gatsby" director Baz Luhrnman last fall and seem to have struck a, er, friendship?

Certainly any woman seen with Leo these days will ignite a firestorm of "new couple alerts" and the lovely Lively is perfect to kick that off.

Other sources in Cannes have said the two were spotted together at the grand Hotel du Cap Eden Roc over the weekend and looked like they had something to hide.

While on the sprawling yacht Lively seemed to be holding court, entertaining the men with stories and sparking laughter. Hey we think she's pretty mesmerizing too.

Whether it's romance or simply old friends reuniting, Leo is obviously single and ready to mingle!

Do you think these two would make a good couple?