After months of rumors following her 'Glee' appearances and her convincing portrayal of a country music singer in 'Country Strong,' as well as performances on the Grammys and on 'Saturday Night Live,' actress Gwyneth Paltrow is no longer in talks to sign with Atlantic Records, despite earlier reports to the contrary.

So it appears Gwynnie's fling with country music is on the backburner … at least for now.

According to the New York Post, the talks have cooled and the deal crumbled. Sources told the tab that the head honchos at the label were incredibly interested in working with Paltrow and in fostering her musical career, but the deal hit the wall. There was also a spate of rumors that indicated that the actress didn't want to or was not ready to record an album. Then, other sources also speculated that Paltrow, who is married to Coldplay frontman Chris Martin, was seeking a contract worth $1 million, which, in this day and age, is an outrageous demand, even for an Academy Award winner since she has an unproven track record when it comes to selling actual units.

Even though discussions have been halted, Atlantic is reportedly still interested in Paltrow should she choose to go down the label road in the future. With her new cookbook and her film career, not to mention two children, Paltrow may be spread a bit too thin at this point. She did, however, express a genuine love for the genre as she trafficked in it while promoting her film.

Paltrow's rep told The Post that "Atlantic was not the only company pursuing her, and she still has not decided if she wants to record an album." However, her rep also said that the possibility of recording "is still something she is considering."

We haven't heard the last of Gwyneth Paltrow!

Watch Gwyneth Paltrow Perform 'Country Strong'