Will she or won’t she?

That’s the burning question about Jennifer Garner since her increasingly chummy ex-husband Ben Affleck was seen embracing her during a paintball outing earlier this month.

Rumors circulated that Affleck wanted her back, and Garner could be considering rekindling their romance.

The official word being peddled by some close to both Garner, 52 and Affleck’s more recent ex-wife, Jennifer Lopez, 55, is that everything’s fine. Garner is going strong with boyfriend John Miller and doesn’t want to get back with her ex romantically — and Lopez is a tool with Garner and Affleck’s super-warm… friendship.

Others tell The Post it’s more complicated, with a lot of variables in play.

“She’s devastated,” a source who used to work for Jennifer Lopez and has stayed in touch with people around her told The Post. “She’s keeping it together publicly but she’s told everyone around her not to trash Ben. She doesn’t want to get down in the dirt with him.”

But another source who knows all parties well vehemently denied reports Lopez was still upset over the divorce, saying she’s “having a blast” this month filming her new Netflix rom-com, “Office Romance,” co-starring Brett Goldstein, in New Jersey.

“I’d say they’re both relieved to be done with him,” the source told The Post last week. “Ben’s an emotional roller coaster. He’s even been reaching out to Jennifer Lopez again recently. The two Jennifers are friends. They bonded over co-parenting their kids. I don’t know why the press feels they have to pit women against each other.”