The broadcast journalist filed for divorce from the former California governor last summer after 25 years of marriage, following Schwarzenegger's admission he fathered a child during an extramarital affair with a member of the family's household staff more than a decade ago.
However, TMZ reported last month Shriver was having second thoughts due to her strong connection to the Catholic church, which forbids divorce. Schwarzenegger also has been pulling out all the stops in trying to win her back, the celebrity news Web site said.
But that account is now being dismissed by people who say they have knowledge of the situation.
"The reports of a reconciliation are not true," People.com quoted an unnamed source close to the former couple as saying.
The magazine said Shriver and Schwarzenegger remain committed parents who intend to continue spending quality time together as a family with their four children.
"Arnold and Maria will always come together when it comes to supporting and loving their children," another family insider told People.com.