05/01/2012 01:18 pm ET

Khloe Kardashian & Lamar Odom Are Taking A Break From Reality TV (VIDEO)

On Monday it was reported that Khloe Kardashian and Lamar Odom were pulling the plug on their popular reality show "Khloe & Lamar," but they're really just taking some time off.

"Entertainment Tonight" caught up with the couple at the E! Network's Upfront Event on Monday night, where they set the record straight. "Our show is not canceled," Khloe explained. "Lamar and I have chosen to take a break this summer. We've been on a whirlwind doing back-to-back shows. We just want to take a little time off for Lamar to be with family time, kids, basketball, Olympics, you never know. So, we have a lot on our plate right now."

The reports the couple were ending their show were believable in tandem with rumors that Odom had become deeply depressed following his split from the Dallas Mavericks. "We just want to be happy. We'll take our time and we'll get back to it when the time is right" the 32-year-old basketball player told ET, adding that he aims to play on this summer's Olympic team.

And despite reports the couple were at odds with "momager" Kris Jenner, the family matriarch appeared to be very understanding of her daughter and son-in-law's decision at last night's event.

Even if Khloe and Lamar do later decide to permanently cancel their show, it doesn't mean we'll be seeing any less of the Kardashian family, who just signed a reported $40 million deal for the next three seasons of "Keeping Up The Kardashians."