A spokesperson for the Coronation Street star said: "The date had never been set. They are still very much a couple."
Keegan also retweeted a message from a follower saying: "The story is just ridiculous. They've always said they weren't marrying this year!"
Sources had claimed that the couple, who became engaged in May 2011 after just seven months together, have decided to "slow down" their relationship following "a tough past three or four months".
Keegan was also spotted without her engagement ring earlier this week, The Mirror claims.
"Max has been away touring and Michelle's Corrie schedule is full on, she can be on set up to six days a week," an insider explained. "Their Barbados trip was supposed to be a chance to spend some quality time together but Max was working and they had a few tense rows.
"Since returning they've decided to cool things off and get back to having fun. They have agreed to scrap the wedding plans and there are no immediate plans to reschedule.
"With their hectic work schedules, it doesn't look like there will be a ceremony any time this year. Max has been confiding in the band. They are all 100 percent behind him."
A spokesperson for the The Wanted spoke about the pair's lack of free time.
"They are not rushing and are taking as much time as necessary to plan the wedding," the rep said. "Both Max, who is touring, and Michelle have hectic work schedules making it almost impossible to pin down a date."
Watch The Wanted in the video for 'Warzone' below: