After all the cozy pictures from their vacation that sparked up all sorts of speculations, the Hailey Baldwin and Justin Bieber romance is finally over, ELLE reported on Thursday.

It seems that the fire that began burning during a shared Christmas vacation between the model and the "What Do You Mean" and "Love Yourself" singer has finally faded out. Baldwin remains "close friends" with Bieber but is totally single as of the moment. "Hailey is not dating anyone at this time, just hanging out with her friends and working," a source tells E! Online.

The insider also explained that Bieber being on tour and extremely busy might have contributed to their current relationship status. "Bieber and Hailey are still close friends, but he is on tour and extremely busy now, so they have not seen each other that much. Bieber and Hailey love each other but have a good understanding where they both stand at the moment."

It was during his interview for the March issue of GQ magazine when Bieber revealed that Baldwin is someone that he really loves and that they spend a lot of time together. They have known each other since they were practically kids, and have been inseparable since ever.

When E! Online spoke with Baldwin at the aMfar New York gala last month, she didn't deny the speculations prior to the full story release of the GQ article. "We are not an exclusive couple. He's about to go on tour," Baldwin said. "Relationships at this age are already complicated, but I don't really like to talk about it because it's between me and him. Honestly, the rest of the GQ article comes out tomorrow." She then added how the 22-year-old Canadian pop star looked awesome and handsome in the photo shoot with the magazine. Baldwin also shared how she thinks people don't really understand how difficult it is to live a very public life when there are a lot of things that you just want to be between you and another person and not the entire world.