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19 December 2011, 07:23 | Updated: 19 December 2011, 07:34
The 'In Case You Didn't Know' singer says he and his co-host on the ITV2 show are simply close friends and nothing more.
Olly Murs has dismissed speculation of a romance between himself and The Xtra Factor co-host Caroline Flack as "banter".
The 'Heart Skips A Beat' singer has been regularly teased on-air by judge Louis Walsh about his close relationship with the presenter, and has faced regular tabloid claims of a fling, but says he doesn't take any of it seriously.
"Simon [Cowell] and Louis love a bit of banter," Olly told The Metro. "Louis always mentioned me and Caroline on the show - it's panto.
"Everyone knows me and Caroline get on really well. That's as far as it goes. It's all fine."
The 'Dance With Me Tonight' singer also discussed his potential return to host The Xtra Factor again in 2012, but promised he will always put his music career before any presenting opportunities.
Olly added: "Music comes first for me and I don't want that to be affected in any way, shape or form."
Olly Murs launched his second studio album 'In Case You Didn't Know' in November.