Usually we get giddy when we can smell a good sex tape coming. But this one just reeks of being fraudulent.  Adult gentleman's magazine Hustler is claiming that they have a sex tape featuring Rihanna getting it poppin' with her LOUD tour opener and Roc Nation labelmate, rapper J. Cole.  Here comes the drama.

Oh, and we've got new pics of Rih yachting into Portofino, Italy today too...

Deets inside...

The folks over at Radar Online say that Hustler magazine is spreading the word that they have their hands on a Rihanna-J.Cole sex tape.  But they're not sure what they're going to do with it.  Radar reports:

In an exclusive statement the porn magazine claims they are have an intimate video which allegedly features the S&M singer and rapper J-Cole.

"Hustler are in possession of the Rihanna and J-Cole tape," said a rep for the adult company. "We have seen it and we do not know what we are going to do with it yet."

While they refused to disclose any further details of the tape, the fact that it exists is sure to have Rihanna quaking in her stilettos.

However, despite Hustler's claim about the pair, a source close to Rihanna is still denying it exists.

"Rihanna is surprised because there is no sex tape," they told RadarOnline.com.

Sighs.  If there was really a sex tape, why not just sell it like Vivid Entertainment does?  Or post it on your own site and rack up the revenue?  Something's fishy here.  Maybe the two (Radar & Hustler) are in on a publicity stunt to stack their own traffic or Rihanna's tour needed a PR push before Rih kicks the LOUD tour off in London.  Rihanna has already been linked to J.Cole's good friends Drake and Jay-Z.  So this would be an odd Hollywood bed-hop.

All we know is--we just can't really see this ish.  They all need more people.  But on the other hand, we're not surprised by much that goes down behind the scenes.  Especially with a chick who's made public knowledge that she like the smell of sex and chains and whips excite her.

Time will tell...

In the meantime, here's pics of Rih rolling into Portofino today looking white hot in an almost backless white YSL jumpsuit, Christian Louboutin tie-dye "Miss Rope" bag, Fendi platform sandals, and her black Prada Baroque shades.  And she navigated through a mass of fans:

Cute.

BONUS: Rihanna says her "Cheers" video, which was shot during her recent vacay back home in Barbados, has been pushed back to tomorrow due to earthquake issues.  Here's the preview though: