A separate source tells ET that the pair, along with a group of friends, spent a weekend together at Mammoth Mountain, a ski resort in California.
The 26-year-old actress also took to Instagram and shared a slice of the "mountain life" she experienced, adding that she was "#feelinglikethetopoftheworld."
Also, a fan took a picture with Jonas at Schat’s Bakery in Bishop, California -- approximately 30 minutes outside of Mammoth -- saying she had "just met Nick Jonas," to which her friend replied, "Don't forget Lily Collins."
Prior to their Mammoth trip, the two were spotted at Bowlero Mar Vista in Los Angeles on Jan. 20, enjoying a late night bowling session with just each other.
Meanwhile, Jonas was also recently linked to actress Kate Hudson. The singer addressed the fling rumors by saying he and Hudson shared a "beautiful connection."
"We had an unbelievable connection as two humans who just admire things about each other, and see something in each other that's beautiful," he told Complex magazine. "Out of my best effort to respect her and her privacy, I'm not going to say if we had sex or not. But we did have a beautiful connection."