Are Pete Wentz and Michelle Trachtenberg Rekindling An Old Flame?

Taking a cue from his estranged wife Ashlee Simpson, Fall Out Boy bassist Pete Wentz looks like he’s moved on… to a former flame! This past holiday weekend Pete was seen out-and-about with ex-girlfriend Michelle Trachtenberg. According to People, the two were spotted Sunday grabbing a cup of coffee in L.A.

Exes Pete and Michelle were an item before he and Ashlee wed in 2008. Could they be rekindling an old flame – or are they just friends? Their outing comes on the heels of word that Ashlee is romantically linked to Boardwalk Empire star Vincent Piazza.

Pete and Michelle together in 2007

While things have seemed pretty civil between Ashlee and Pete, it’s another story with Michelle. Hopefully Ashlee and Michelle don’t bump into each other anytime soon – it might get ugly… AGAIN.

Do you think Pete and Michelle are back together, or were they just grabbing an innocent cup of coffee?