Microsoft Game Studios has told Eurogamer that it has no plans to release GoldenEye on Xbox Live Arcade.
It also rubbished recent reports by Xbox World 360 magazine, which promised to unveil the title in its next edition.
"The story in Xbox World 360 is based entirely on rumour and speculation," MGS told us.
"Unfortunately, we were never contacted by the publication to confirm information or participate in the story in any way, as we would have confirmed that we do not have the necessary rights to release GoldenEye on Xbox Live Arcade."
Microsoft Game Studios does "share the gaming community's enthusiasm" for the title and would "love to release" it on the service.
However, until Microsoft and Nintendo can come to a mutual agreement, it seems there will be no PP7 antics for a while to come.