Katy Perry's Taylor Swift Diss Song Cancelled? 'She Won't Waste A Hit On Someone She Hates'

After months of swirling rumors claiming that Katy Perry was preparing to hit back at Taylor Swift with a scathing diss song, new reports are alleging that Katy has instead decided to take the high road when it comes to their past drama.

According to a new claims, Perry currently has no plans to hit back at Swift's "Bad Blood" because she supposedly doesn't want to give Taylor the credit of inspiring what could potentially be one of her biggest hits.

"Katy really is leaning towards not releasing a Taylor diss track," an insider told Hollywood Life. "Katy feels she is more of an artist to keep having a pi**ing match with Taylor."

"[Katy] doesn't like [Taylor] and those thoughts will remain," the site's source added, "but she feels like she should use her talent to write songs about other things and she doesn't want to waste a hit song on someone she hates."

Katy Perry's Taylor Swift Diss Track Cancelled -- 'She Won't Waste A Hit On Someone She Hates'
[Photo by Larry Busacca/Getty Images for NARAS]The site's latest report claiming that Katy is now having second thoughts about releasing a scathing track aimed at Swift comes shortly after the site reported that Perry felt "vindicated" after Taylor's ex-boyfriend Calvin Harris put her on serious blast last week.

"Katy definitely had thoughts to squash their beef in light of all the bigger things happening in the world," a source revealed of the supposed diss track, before suggesting that the latest drama surrounding Swift and her ex may have fanned Katy and Taylor's feud flames once again.

"As the weeks have gone by and seeing what she is doing in this whole Calvin debacle has really lit the fire again," Hollywood Life's insider said of Perry.

Katy and Taylor's feud definitely appeared to have been relit on July 13 after Harris dragged Perry back into the drama after referencing their feud in a recent Twitter rant.

Katy Perry's Taylor Swift Diss Track Cancelled -- 'She Won't Waste A Hit On Someone She Hates'
[Photo by Kevork Djansezian/Getty Images]"I know you're off tour and you need someone new to try and bury like Katy ETC," Harris wrote in a Twitter message directed at Taylor last week, which followed a confirmation from Swift's rep that confirmed she did in fact write Calvin's latest hit with Rihanna, "This Is What You Came For," under the pseudonym Nils Sjöberg.

Katy Perry is yet to officially respond to Harris's tweet, despite posting a pretty telling GIF on Twitter shortly after the drama, though rumors have long been swirling that Perry was considering hitting back at Swift after the star put her on serious blast in the song, "Bad Blood."

The latest claims come just days after a number of other reports suggested that Perry had actually written a number of diss tracks aimed at Swift and their past feud for her new album, but was unsure whether or not to release them.

"Katy has recorded response tracks about 'Bad Blood' and about Taylor Swift," an insider recently told Hollywood Life of Katy's diss tracks, but admitted that it was "a flip of the coin on if she is going to go through it or not."

"[Katy] is weighing the pros and cons on releasing them," the site's Katy source continued. "It certainly would help record sales and she would be happy to get the last word on everything."

Radar Online also alleged that Perry was preparing to slam the star, even reporting earlier this month that the song would eventually be made a single.

"Katy has written a scathing response and intends to make it a single," an insider told Radar Online of Perry's supposed "Bad Blood" diss track response. "[The song] will reference some of the things she feels Taylor has done to play her peers against each other."

What do you think of reports claiming that Katy Perry has now decided not to release her alleged Taylor Swift diss track?

[Photo by Frederick M. Brown/Getty Images]