Meryl Streep and Martin Short seemingly aren't ready to walk their situationship down the runway ... leaving an iconic L.A. hotspot separately late Thursday night.

We're told the two stars left the Chateau Marmont around 11 PM PT ... but they didn't walk out hand in hand -- they walked out when the hands of the clock looked different.

Check it out ... Meryl drove her car away from the venue, alone, while Martin flashed a grin for the cameras as he walked out.

As you know ... Meryl and Martin were first linked romantically in 2024 reports -- but their reps have continuously denied they're dating. After about two years, though, no one's really buying it anymore.

Steve Martin had to poke fun at the romance rumors in late 2024 ... and Selena Gomez mentioned she saw Short texting Streep at the Emmys in September.

It's been a tough year for Martin ... his longtime pal Catherine O'Hara and his daughter Katherine passed away just a few months ago.

Looks like Meryl can still put a smile on his face ... even if it's only in secret.

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