Star Magazine is reporting that Winona Ryder, 36, and Keanu Reeves, 43, are having an on-set romance on their film The Private Lives of Pippa Lee.

Sparks are flying between Winona Ryder and Keanu Reeves on the set of the drama The Private Lives of Pippa Lee.

Star has learned that the two iconic stars have been spending lots of time in each other’s trailers.

“They are also always hugging on the set,” says a source. “The chemistry is really electric.”

They’ve gotten so close that during a break in filming in Connecticut, Winona, 36, relaxed with Keanu, 43, at his Manhattan pad. Stay tuned!

[From Star Magazine]

The detail that Winona went over to Keanu’s place adds some credence to this story, but Star Magazine always tries to romantically link co-stars. Their breathless stories about on-set romances usually include lines like “they kept kissing after the cameras stopped,” and “they hugged just a little too long, everyone noticed it.” (These are paraphrased from memory, but they’re not far off from the lines Star regularly uses for fake stories. )

It’s possible that this is true – Winona and Keanu are single as far as I know, although the tabloids don’t follow these two much since their popularity seems to have peaked about 10 years ago. Keanu was seen out with an “unknown woman” in early April, but who knows what that was about.

A lot of romances start on set, and maybe they found that they’re kindred spirits. They could be smoking together in Keanu’s trailer or taking turns using his rented hyperbaric chamber. These two don’t seem like the type to go to a popular restaurant to make their romance public, but both of them could use the publicity that would follow. We’ll have to see if anything more comes of this story or if it’s planted firmly in Star’s imagination.

Winona Ryder is shown at Paris Fashion Week on 2/2/08. Keanu Reeves is shown at the Street Kings premiere in Seoul, South Korea on 4/17/08. Thanks to WENN.