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Michelle "Bombshell" McGee might not have sold her alleged lover Jesse James out to the tabs if he was willing to pay her some hush money, says a new report.

A source tells the Chicago Sun-Times that McGee grew infuriated after James refused to back a stripclub/nightclub idea Michelle had, and when he also refused to pay to keep her from dropping a bombshell on his family, she got her money another way -- by selling her story to the tabloids.

"Michelle has a very short fuse, and she totally lost it when Jesse rejected her,'' said the source.

That's when she sold her story to In Touch Weekly for an estimated $30,000.