ET spoke with the 30-year-old rapper at Elton John's annual Academy Awards Viewing Party presented by the Elton John AIDS Foundation on Sunday, and he talked about the rumors that he and Megan are dating. Earlier this month, a video of G-Eazy and the "Hot Girl Summer" rapper getting cozy made the rounds on social media and the internet had plenty of reactions, prompting Megan to deny the rumors on Twitter.
"We're just friends," G-Eazy tells ET's Lauren Zima of him and Megan, winking at the camera with a big smile on his face.
G-Eazy also addressed the new song he dropped on Friday with Tory Lanez and Tyga called "Still Be Friends," which some fans speculated was about him wanting to be more than friends with Megan.
"That song I made a while ago," he shares.
The "No Limit" rapper had nothing but praise for Megan.
"I think she's incredible," he says. "I think she's beautiful and she's talented and she's a very lovely lady."
As for his highly anticipated new music, G-Eazy said he was "pretty much done" with his album and is working on narrowing down over 170 songs.
"It's nostalgic," he says of the vibe of his new album. "It's about a full-circle journey and me coming home."
Meanwhile, last week, Megan bluntly tweeted about all the chatter surrounding her and G-Eazy.
"Lol alright nowww y'all got all y'all jokes out but I am not f**king G Eazy," she wrote.
After one fan asked, "So why was he sucking the makeup off ur right cheek like that hottie," Megan hilariously replied, "He like fenty," with a shrugging emoji.