The Girls Aloud star was said to have been in the studio with the 'Lollipop' rapper working on material for her third solo studio album, but the speculation has since been rebuffed.
Speaking to the Daily Star at last Sunday's T4 On The Beach, Far*East Movement let slip: "We've just been working with Will.i.am and Lil Wayne and this new singer - how do you say her name? - Cheryl Cole?"
However the 'Like A G6' collective have since cleared up the confusion in a post on their official blog.
They stated: "[We] read somewhere people wrote we said we got on the studio with the singer Cheryl Cole and Lil Wayne? too funny how things get mis -quoted HAHA (sic).
"All good tho, so u hear it from us... never said Cheryl Cole and Lil Wayne were working together... we was in the studio with the fam Will.i.am n Cheryl in the UK ... and seperately we are on tour with Lil Wayne in the US."
Although the statement clears up any rumours that Cole was working with Lil Wayne, it does confirm that the former X Factor star is back in the studio and working with Far*East Movement.
Cole will reportedly return to the UK version of The X Factor later this year to help new judge Tulisa Contostavlos during the Judges' Houses stage of the competition.
> Simon Cowell, Cheryl Cole 'have no relationship' after 'X Factor' drama
Watch the music video for Cheryl Cole's number one hit 'Promise This' below: