The British invasion has been postponed... for now.

Designer Roberto Cavalli is denying published reports that he allegedly offered British pop star Cheryl Cole £1.3 million (just under $2 mil) to star in his Fall 2010 campaign, a Cavalli spokesperson tells StyleList.

Various media outlets, including UK's The Mirror, claimed today that Cole had sparked a fashion bidding war as labels fought to have her model for their fall collections.

No dice, says Cavalli.

"Please note that further to false rumors from today's newspapers and online news sites, the house of Roberto Cavalli have never approached or offered Ms. Cheryl Cole a fee to appear in any of its advertising campaigns," the designer's representatives stated to us.

Guess last season's model, Kate Moss, can sleep a little easier tonight!

Though relatively unknown in the States, Cole is one of the most popular female celebrities in the UK.

In addition to being a member of girl group Girls Aloud, she's recently topped the charts as a solo artist, serves as a judge next to Simon Cowell on the UK version of "X Factor," is the face of L'Oreal UK and is married to Chelsea footballer Ashley Cole, though the two are currently separated thanks to his notorious cheating.

In other words, she's Victoria Beckham 2.0.

But does that mean she's ready to hit the big time with a major fashion campaign? Only time will tell -- but it looks like Cavalli's not biting.

Meanwhile, check out George Clooney's girlfriend in Cavalli's spring lingerie campaign.