According to the site, sources close to the two say that they shared a room in the oceanfront home that they were renting. In one Snapchat video, French playfully used Iggy's firm booty as a pillow while flying to Cabo.
Speculation that a romance was brewing between French and Iggy started last month when they were spotted partying together in Las Vegas.
Iggy Azalea and French Montana are vacationing together in Mexico.
The musicians shared more than just a sweet smooch on the edge of the boat, while Miz Azalea donned a teeny zebra-print bikini that flaunted her fabulous ASSets!
The "Black Widow" singer, 26, and the "Lockjaw" rapper, 31, "are very much a couple", the insider tells Us. "They've been all over each other".
Azalea, who recently ended her engagement with Los Angeles Lakers player Nick Young after she caught him cheating, posted snaps from the trip to her Instagram.
Montana and Kardashian were also reportedly talking about getting married at the time, even though the star was still married to her estranged husband, Lamar Odom.
Both rappers are expected to drop new albums this year, with French readying his delayed project "Mac And Cheese 4" and Iggy set to release "Digital Distortion".
What are your thoughts on Iggy Azalea dating French Montana?
For now, check out these social posts and let us know if you think these two would make a cute couple.