UPDATE: Iggy Azalea’s Camp Strips Sex Tape Million Dollar Drama

Hustle Gang's Iggy Azalea has stepped forward to put an immediate end to rumors about having a steamy sex tape floating around for interested buyers.

Iggy claims she has no association to the x-rated footage.

Iggy Azalea allegedly recorded a sex tape that could make her millions upon millions — according to a Hollywood porn boss, but Iggy tells TMZ she can’t cash in on the vid … because it’s NOT her! Vivid honcho Steven Hirsch tells us he has seen some footage which he says appears to be Iggy with an ex-boyfriend — and from the little he’s seen … he’s sure it could easily top Kim Kardashian’s legendary sex tape in sales. (TMZ)

The “Fancy” singer’s camp also weighed in on the controversy…

The “Fancy” hitmaker’s team also stepped up to slam the reports.

“It is categorically not Iggy Azalea in the video in question. She has never been involved in any sexually explicit recordings,” Azalea’s rep wrote in an email to HuffPost Entertainment. (Huffington Post)

Details of an x-rated video being presented to Vivid Entertainment surfaced online Thursday (September 11).

The adult video company says it’s been approached by a third party who claims to represent an individual with rights to an alleged sex tape featuring the one and only Iggy Azalea. “Iggy is definitely the hottest female rapper today,” co-chairman Steven Hirsch said in a statement, adding that he’s been shown a “teaser” of images of a woman who appears to be the 24-year-old sensation. “I believe there would be a huge demand for her sex tape,” Hirsch said. “Iggy has proved that she’s an amazing talent. If there is any tape out there that can rival that of Kim Kardashian, this one is it!” (The Hollywood Gossip)

Despite the hype, Vivid Entertainment has not made a decision on whether it would purchase the footage.

“We are conducting our due diligence and if we are satisfied with our review, we will definitely try to make a deal to distribute the tape.” Vivid Entertainment has come out with best-selling sex tapes that feature stars such as Kardashian, Pamela Anderson, Kendra Wilkinson, Tila Tequilia, Montana Fishburne, Farrah Abraham and, most recently, Mimi Faust and Nikko Smith of VH1’s Love & Hip Hop: Atlanta. (The Hollywood Gossip)