The pair have been spotted together many times recently and also plan to attend the post-Oscars Vanity Fair party together.
“Hurt Locker”, a movie about a US army bomb squad in Iraq is up for nine nominations and former Oscar winner, 34 year old, Charlize, is due to present one of the awards in Los Angeles.
"They get along very well and we suspect something is going on between them, although they are being very coy," said a source.
She has been single since calling off her 9 year engagement to 37 year old, Irish actor Stuart Townsend.
39 year old, Renner, recently revealed that he visits Charlize at her home and said, "We’re just friends. We’re crazy about each other. I can go hang out with her and play her piano and sip Scotch."
The couple are keeping things below the radar as the Academy winning actress does not want to upset her ex.
"But the fact is she is dating again and Jeremy has been spending a fair amount of time with her. They get on well but Charlize is lined up to do Mad Max 4 soon in Australia, so she doesn’t want a serious relationship," said the source.
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