Kyle Richards Hangs with Morgan Wade in Aspen, All Business

12: 55 PM PT — As it turns out, there’s a perfectly good explanation for why Kyle is hanging with Morgan in Aspen of all places — and it’s strictly business, as TMZ has learned.

Sources with direct knowledge tell us Morgan’s actually got a show in town later this weekend, which explains why she’s there herself. As for Kyle, we’re hearing she’s actually shooting a docuseries in Aspen as well … so, it seems like their paths naturally crossed.

Folks are, no doubt, going to still speculate about KR and MW — seeing how they’ve been hanging out a lot lately — but on its face, it would appear they’re just good friends.

Kyle Richards isn’t putting out the fire over speculation about her and Morgan Wade — in fact, she’s kinda throwing gas on … ’cause now, they’re out in Colorado, just the 2 of ’em.

The ‘RHOBH’ star was spotted hitting the town in Aspen Friday with none other than Morgan tagging along, right by her side. In photos obtained by TMZ, you can see them cruising into a shop and perusing the shelves … eyeing jewelry and other knickknacks strewn about.

We’re told that while Kyle and Morgan did have a little entourage with them … they were mostly left to their own devices, and didn’t really leave each other’s side during the pop-in.

Now, while they were definitely rolling together … eyewitnesses say there were no clear signs of PDA between them during this outing. Still, though — them continuing to hang out as much as they do (which is a lot) is further fueling rumors that they’re a romantic item.

They’ve publicized their close friendship for about a year and a half now — going on vacays together and whatnot … but folks are thinking they’re actually dating now, especially in the wake of Kyle’s current separation with her longtime husband, Mauricio Umansky.

Kyle recently made it seem like she and Mauricio were working things out — but in this instance … the guy is nowhere to be found. So it’s unclear where things stand, TBH.

Whether Morgan is Kyle’s girlfriend or not … at least she’s in good company through all this.

Happy bargain hunting, you two.

Originally Published — 12: 03 PM PT