Heidi and Spencer have pulled the wool over everyone's eyes. Shocking! Looks like the reality couple who claim to have split, are still living under the same roof ... and this roof belongs to a $5.5 million dollar pad.

The real estate agent repping the home tells X17online exclusively the reality couple has rented the 5-bedroom, 6-bath, 6,200 sq. ft, single-story sprawling spread through the summer ... with an option to buy!

We caught Mr. Pratt off guard yesterday while he was grabbing some early morning grub at Coogie's Beach Cafe in The Malibu Colony Plaza. We were told that Mr. Pratt wasn't too happy that X17 captured these exclusive pix ... especially since he wasn't paid a dime for them!

So why was Spencer hanging in Malibu so early in the morning? Looks like Spence has actually been living with his supposedly estranged wife Heidi at their newly rented Malibu home.

As for the possibility of shooting the yet untitled Heidi reality show at the beach-side home, the agent says that no where in the papers does it say that it will be used for television purposes. In fact, he tells X17online exclusively, "There would have to be proper releases and insurance to make sure that none of the homes expensive interior and property would be damaged." However he admits, if they were to film a show there, it would only "increase the home's value."

Actually, X17 readers called Heidi and Spencer's BS back in March when 41% of you who voted, said the original breakup was as fake as Heidi's F-cups. Check out that poll HERE to see the results.

And don't miss our gallery below with 64 pictures of Heidi and Spencer's new pad. Impressive!