Jada Pinkett Smith and her husband Will Smith are not getting a divorce, and they are not selling their $42 million Calabasas home in California, their rep says.

"This is false. Their home is not on the market," publicist Karynne Tencer told the New York Daily News Monday.

Their dream home, which sits just above Malibu, took four years to complete and includes a screening room, professional recording studio, retractable skylight in the double-height living room and views of the couple's private, man-made lake, The New York Daily News reports.

Will told Architectural Digest, which featured the property in 2011, that the house's circular floor plan was designed to "create an infinite cycle that represented what Jada and I hoped for our love."

Rumors circulated that the fact that their house has gone on sale (which it wasn't) meant that Jada Pinkett and Will Smith were heading towards divorce, claiming that selling their properties would make divorce easier, GossipCop.com reports. The website notes that the rumors are false.

Will, 44, revealed to Ellen DeGeneres in 2008 the secret to his 16-year marriage to Jada Pinkett, 41: divorce was off the table.

"What I found is divorce just can't be an option," he told Ellen. "It's merely that simple. And I think that's the problem with L.A. There are so many options. So a huge part of the success for Jada and I is that we just removed the other options."

However, the New York Daily News reports that Will and Jada Pinkett Smith recently sold their three-bedroom vacation home in Hawaii to Russian billionaire Dmitry Ryboloviev for $20 million.

Will and Jada also recently pulled the plug on their privately-funded New Village Leadership Academy in Calabasas, the website reports.

They founded the academy in 2008 after home-schooling kids Jaden, 15, and Willow, 12, and poured millions into the academy.