James Franco and Ashley Benson, More Than Co-Stars?

New reports Monday have suggested that James Franco is dating his "Spring Breakers" co-star Ashley Benson.

Hollywood relationships frequently arise on film sets, and a romance between the actors would not come as a surprise.

Well known for his films such as "Planet of the Apes" and "127 Hours," Franco is 12 years older than the "Pretty Little Liars" star Benson.

Although the pair has not commented on their romance, the actors were spotted holding hands at the Los Angeles Haunted Hayride last week, according to MTV.com.

Moreover, an insider suggested that Franco and Benson are smitten with one another.

"They have been seeing each other for a little over a month," said a source close to the actors speaking to The New York Post. "But things are going very well."

The new relationship comes a year after Franco announced his split from his long-term girlfriend Ahna O'Reilly. The 34-year-old admitted that long distance got the better of them when he went to study English at Yale University in Connecticut while O'Reilly stayed in Los Angeles.

"That [relationship] lasted about four or five years," Franco told MSN. "We'd been living together in L.A. than I came to New York to go to school for two years. Then I signed up for more school at Yale. I think that was it for her."

Dating for the actor had not been easy in high school either, he added.

"I think girls liked me, but I was awkward, shy, and emotionally immature, so I didn't have a ton of girlfriends," said Franco. "I had short-term relationships and always got dumped, I think because I was too slow for them."

Franco met Benson, 22, while filming "Spring Breakers" in Florida earlier this year. The film also stars Vanessa Hudgens and Selena Gomez.

Meanwhile, both actors remain very busy with their careers. Benson's ABC Family series "Pretty Little Liars" was recently renewed for a fourth season, and Franco will appear in Sam Raimi's upcoming film "Oz: The Great and Powerful."