The drama continues on with “As the Sex Tape Turns” starring Kevin “Waste of Life and Drain on Society/Soon to be seen on VH1″ Federline and Britney “I gave up the Cheetohs so I am hot again” Spears.

New sex tape details are ever present in the soap opera/foreseeable disaster that is Britney and Kevin. Apparently, a “source” says that the tape contains 4 hours of the couple. The source continues spewing the details adding, “They did nothing all day but have sex – and play the odd game of chess.”

Porn Peddler and sex tape extraordinaire David Hans Schmidt has also admitted that he is in talks with the holder of said tape and plans to meet with “him” today (Nov.21st). The call came from a “scrabbled number” but the sex-tape-napper dropped the right names so David will treat the situation as legit prepared to offer $100 million for the tape.

Chess? What kind of foreplay is that? Were they watching “Revenge of the Nerds” instead of classic porn too? What is really sad about the situation is that he probably kicked Britney’s ass in their games of chess.

UPDATE: There is no sex tape after all. Details after the jump.

Britney’s Sex Tape Mystery [Us Magazine]

Written by Cara Harrington

UPDATE: According to TMZ:

Britney Spears and Kevin Federline will come together one more time to tell the public that they never made a sex tape.

Reps from the divorcing couple tell us that both Britney and Kevin want to put an end to rumors that K-Fed is out peddling a sex tape for some quick cash. They have agreed to jointly issue a statement, hoping to put an end to the flurry of stories that such a tape exists.

Finally, and end to that sordid tale.