Just in time for Valentine's

Excerpt of the day:

Tom Cruise's new Mission: Impossible: To convince tabloids that he and Katie Holmes are legit.

Reps for Cruise and fiancee Katie Holmes were in super-spin mode Tuesday, furiously issuing denials after Life & Style published a "malicious" Valentine's Day story, claiming the entity otherwise known as TomKat was kaput.

In a press release and brief report on its Website, the glossy touted its Feb. 27 cover story, which bears the headline "SPLIT! And Katie's 7 Months Pregnant."

"Life & Style has learned exclusively that Tom Cruise and Katie Holmes have agreed to call off their wedding--and, ultimately, to split," the story says, attributing two unnamed "friends" of the couple.

The report continues, saying parents-to-be Cruise and Holmes "plan to keep up the charade of a romance until after their baby's birth this spring. In the meantime, the couple will live in his Beverly Hills home--though sleeping in separate bedrooms--through the summer," presumably after Mission: Impossible 3 reaches blockbuster status. (The sequel comes out May 5.) The report concludes by saying Cruise will buy Holmes a house nearby so she can visit their child whenever she wants and that the stars will have joint custody. The issue featuring the story is due on newsstands Friday.

Umm, new challenge?

Too bad Tradesports doesn't have a market set up for this one.