Shelton, 39, and Stefani, 46, called it a night after attending Jared Leto’s private house party, where they were joined by Jessica Alba, Nicky Hilton and Sacha Baron Cohen and Isla Fisher, a source tells PEOPLE.
The Voice judges sported big smiles while exiting Leto’s bash and walking to a nearby SUV. Stefani, dressed as a cowgirl, led the way for Shelton, who wore a bright poncho and trucker hat.
“Blake and Gwen are going through similar situations,” says a Shelton insider, who adds that the duo “are flirty.” “They have spent time together and have drawn support from each other.”
According to Entertainment Tonight, a source said the stars were holding hands before they spotted a photographer. A source close to Shelton confirms to PEOPLE that the pair were at the same party, but has no knowledge of Shelton and Stefani holding hands. “They have been spending a lot of alone time together,” a Hollywood insider tells PEOPLE; however, a partygoer says the duo “hung out, but were just totally friendly. They were hanging with a group of friends. It was not just the two of them alone.”
For now, “they are good friends,” says the Shelton insider. “The coaches are a close-knit group and share a unique bond.”
“We’re just trying to have fun, you know?” Stefani told Carson Daly on his radio show Monday about being photographed leaving a Halloween party with Shelton.
“I was literally that party girl that you hear about when their life blows up and you’re like ‘Oh, I’m going out! Watch me!'” she added.
Speculation about a romance between the newly single musicians gained steam after they began working on season 9 of NBC’s The Voice together, but a source told PEOPLE in October, “It’s total bulls—. There’s nothing there. They’re nothing more than friends.”
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Stefani recently shut down chatter in an interview with Entertainment Tonight, saying, “Have you read the news?”
Shelton, who recently joked about preparing for "awkward" jokes about his split from Lambert at Wednesday’s CMAs, has been adjusting to life as a single man. A close friend of the country crooner told PEOPLE in October that he “has bounced back very quickly,” adding, “He experiences all the same ups and downs as anyone else, but he is doing so well and is always the life of the party.”
“This birthday was weird,” she told PEOPLE last month. “I got so emotional. I literally felt so overwhelmed and loved that I was weeping in my kitchen, going, ‘Oh my God, I just feel so much love around me.'”
A rep for Stefani did not return request for comment.
• Reporting by MELODY CHIU, SARAH MICHAUD and LIZ McNEIL