Elon Musk -- Third Time's a Charm ... Pulls Plug on Divorce Again!

Billionaire PayPal and Tesla founder Elon Musk isn't quite ready to legally cut ties from his wife -- he's ditching plans to divorce actress Talulah Riley ... whom he already divorced once before.

Musk filed for divorce on January 1, 2015, but now he's followed up by filing a request to dismiss the divorce ... and the new docs indicate Talulah's on board with the reversal.

Musk and Riley initially married in 2010, but divorced two years later. They remarried in July 2013, only to hit the skids again.

All this indecision has hit Musk where it really hurts -- he's paid her settlements of $4.2 million and $16 mil for each split. Then again, he's reportedly worth $14 billion ... so, it can't hurt THAT much.