We bet he's not bumpin' "Honey" on his yacht anymore!

Mariah Carey and James Packer have split, and rumor has it poor Mimi was the one who got dumped! Women's Day Australia was the first to report the news, and it was allegedly the singer's upcoming reality show and extravagant spending habits that tore them apart.

"They are not together right now. They split a couple of weeks ago. It’s possible they will get back together. They are still talking, but James needed a break," a source dished to People. "James is all about business and making money. Some of Mariah’s eccentric ways, especially her spending habits, caused drama. James is the most generous person ever, but he definitely doesn’t agree with senseless spending," the source added.

The Aussie mogul and the legendary diva, who met at the Hercules movie premiere in Aspen, first stepped out as a couple last September and got engaged in January.

The Grammy winner's upcoming E! show Mariah's World didn't help their relationship, either. "James is very private, and doesn’t need the media to be successful. He doesn’t want to be a part of Mariah’s reality show," the insider revealed. What did he think was going to happen when he started dating her?!

We guess being Mariah's man isn't the sweet sweet fantasy he thought it would be!

UPDATE: Mariah's rep just released the below statement to ET regarding the reported breakup.
    “Mariah and James had a fight in Greece, and have not seen each other since. The fight was not because of any cheating allegations or excessive spending by Mariah. James is one of the most successful businessmen in the world. They are trying to work it out. Right now, they’re not sure if they will stay together. They are discussing it, and plan to release an official statement together about their future.”


TMZ is now reporting that sources close to superstar say that James "is not in his right mind," and that "she had to leave him. The sources also say he hadn't been "present for her" for a couple of months and that Australian is "mentally unstable." Eeek!

But unfortunately that's not all, the sources say the the split happened after the businessman actually got "violent" on the yacht in Greece. Allegedly, James was terrible to Mimi's assistant -- which caused her to finally leave.

James' camp tells the outlet that the allegations are "simply untrue."