IS SHE OR ISN'T SHE??

Despite the fact that both Us Weekly and OK! Magazine are reporting that they are expecting a baby, Pete Wentz is denying talk of Ashlee Simpson being prego...

The Fall Out Boy bassist personally tells MTV News today...

"There is a witch hunt for people to be pregnant whenever they get engaged in Hollywood... This is all news to me. I can't wait for the story about how I'm really in a gay relationship and this is all just a cover... I mean really, this is crazy... I mean were engaged, that's true, and happy about it."