UPDATE: READ ABOUT MICHAEL PHELPS' BEIJING HOOKUP WITH A FELLOW GOLD MEDAL SWIMMER HERE

Plus:
Michael Phelps to host Saturday Night Live and write a book

In a candid interview via satellite from China, Olympic golden boy Michael Phelps opened up to "Extra's" Dayna Devon about dating, his multi-million dollar payday and Cameron Diaz!

As for the rumors Phelps is dating fellow Olympic swimmer, Amanda Beard, he declares,...