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The beauties join a number of other models to pose in racy lingerie for V Magazine's Issue 97 which is set to hit the stores on September 10.
The lovebirds were photographed packing on PDA at LAX as they seemed to fly for romantic getaway.
The former Victoria's Secret model sparked the dating rumors after she was spotted making out with the billionaire during a dinner date at an eatery in Venice over the weekend.
The Victoria's Secret model wore a hot pink Grecian inspired gown which had a plunging neckline that exposed her cleavage and side boobs.
In her latest Instagram photo, Kerr was seen naked as she chewed down sandwich and fries on a couch.
In a six-page spread of Sunday Style, the 32-year-old model shows off her toned figure wearing a black leather jacket paired with a black bra and high-waisted undies.
The former couple, who split in 2013, is reportedly hooking up again and their relationship is strictly about sex.
‘Flynn inspires me every day. Just seeing the world through his eyes is so refreshing’, so the supermodel says in an interview for Reebok's In Her Shoes series.
In the cover picture, the 31-year-old model wears nothing but an oversized hat and black bottoms with her arms crossed over her breasts.
The 'Come and Get It' singer and the supermodel pose for a photo together at Louis Vuitton show which is also attended by actresses Michelle Williams and Jennifer Connelly.
In addition to some items donated by Paltrow, the sale features a Balenciaga dress which belonged to Kate Hudson and Nicole Richie's Christian Louboutin shoes.
In an interview published in May issue of British GQ, Kerr talks about her sexuality, saying, 'I appreciate both men and women.'
The Victoria's Secret model's parents, brother and grandmother claimed they had not seen her and son Flynn in over a year.
According to some sources, Packer tells his friends that he is currently seeing Kerr, but both parties have not commented on the report.
In an interview with CBS' 'Sunday Morning', the 'Lord of the Rings' actor opens up about separation from his wife, saying that their marriage was 'challenging.'