We'd thought Kanye West and Alexis Phifer would be spending the Good Life together - but now, we're hearing reports that their wedding is off!

Us is reporting that West is currently "possessed" by his Glow In The Dark tour - and has broken off his engagement with Phifer! Jeez, Kanye - nearly two years of engagement, gone like that?!?

"[Kanye] just couldn't keep it going," a source said. "They are still friends and have broken up and gotten back together before, so it could work out."

Let's hope so - these two seemed like such a good match!