Lil Tjay and Ice Spice Deny Dating Rumors, Despite $150K Watch Gift

Lil Tjay upgraded Ice Spice's wrist game on Valentine's Day with a $150K Richard Mille watch, but before you assume what time it is ... both rappers tell us it's just what "friends" do.

Sources close to Ice Spice tell TMZ Hip Hop the duo isn't a romantic couple, but Tjay still wanted to get her something sentimental to celebrate their "Gangsta Boo" collaboration charting on the Billboard Hot 100.

NYC-based Benny the Jeweler revealed Tjay's six-figure souvenir to be an RM-05 Rose Gold, complete with a white band, and it just happened to be ready for pickup on February 14.

No surprise why the fancy timepiece is raising eyebrows -- Tjay's appearance was the lone guest contribution when Ice's debut EP "Like..?" dropped a few weeks ago.

The track would've had a video too, but Tjay got arrested for gun possession ahead of filming, forcing Ice to shoot her "In Ha Mood" video instead ... and that one's also making a splash on the charts.

Both Bronx-born artists also went halfsies on a Thanksgiving turkey drive in the heart of their hood last November -- but yep, we're still told there's no romance.