‘Khloe & Lamar’ Isn't Canceled, Just Taking a Break (Video)

"We'll get back to it when it's time," Lamar Odom says of his E! reality show "Khloe & Lamar"

Khloe Kardashian and Lamar Odom either have some very good or very disappointing news, depending on one's perspective.

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The stars of E!'s reality-show offering "Khloe & Lamar" aren't abandoning their show, as earlier reports have asserted. They are, however, taking a little time-out.

Also read: Kim Kardashian and Family Ink New 3-Year Deal With E! (Video)

Kardashian and Odom took a moment at E!'s upfront presentation to address reports that the show's second season — which wrapped Sunday — would be its last.

Also read: Anti-Kardashian Petition Demands E! Cancel "Keeping Up"

According to the pair, they are taking an indefinite break from things in order to address other obligations, whether they be familial or professional. (Of course, with the Kardashians, the lines between personal and professional lines are pretty thoroughly blurred.)

“Our show is not canceled,” Kardashian told Entertainment Tonight. “Lamar and I have just chosen to take a break this summer. I feel like we’ve been on a whirlwind and 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. We have a lot on our plate right now.

We just want to be happy," Odom added. "We'll take our time and we'll get back to it when it's time."

Odom noted that he hoped to play on the Olympic basketball team at this summer's games, and to return to the NBA next season.

Former Los Angeles Laker Odom, in particular, has experienced a fair amount of tumult since the show began airing. After being traded from the Lakers to the Dallas Mavericks, the couple pulled up stakes and headed to Texas, but Odom parted ways with the team in April — just a few short months after signing with the Mavericks.

TMZ initially reported that Kardashian and Odom were pulling the plug on the series altogether on Monday, followed by a report Tuesday that Kardashian is in talks to star on another E! series without Odom.

Watch Kardashian and Odom clear the air in the video.