They not even born, but a glimpse of Angelina Jolie and Brad Pitt's twins is already worth $15 million - and counting.

A bidding war has broken out in the US between People magazine and OK! for the first exclusive pictures of the couple's babies, according to reports.

A spokesperson for the American edition of OK! declined to comment on the dollar figure, but did tell TMZ they would be 'foolish' not to be in the running.

No baby news yet: A spokesperson for the couple last week denied reports Angelina had given birth to twin girls

A People representative said: 'We'd love to see the photos in PEOPLE. We wish the family well.'

The price is eclipsing the record amount paid for pictures of the couple's first biological child Shiloh in 2006 -  People magazine paid more than $4.1 million for the North American rights, while British magazine Hello! obtained the international rights for $3.5 million.

The profits were donated to a charity by the couple, who are also parents to Maddox, 6, Pax, 4, and Zahara, 3.

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Angelina lounges in typical sultry style for the Vanity Fair shoot

The rumour mill was in overdrive late last week with claims the actress had delivered two girls named Isla Marcheline and Amelie Jane Jolie-Pitt in France.

Respected U.S. TV show Entertainment Tonight claimed that Jolie went into labour on Sunday where she has been living with partner Brad Pitt, 44.

However a rep for Jolie denied the reports, saying: 'Angelina has not given birth. She is fine, enjoying her home and her family in France.'

Va va voom: Angelina Jolie on the cover of the latest issue of Vanity Fair

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Inspiration: Jane Fonda in the 1960s film Barbarella

The 32-year-old recently told Vanity Fair that being pregnant makes her feel sexier than ever.

The Tomb Raider star, who appears on the cover in a smouldering Barbarella-inspired shoot, told the magazine: 'I love it. It makes me feel like a woman. It makes me feel that all the things about my body are suddenly there for a reason. It makes you feel round and supple, and to have a little life inside you is amazing.

'Also, I’m fortunate. I think some women have a different experience depending on their partner. I think that affects it. I happen to be with somebody who finds pregnancy very sexy. So that makes me feel very sexy.'

She also told the publication her romance with Brad caught her completely off guard.

'Then I met Brad, everything I wasn’t looking for, but the best man, the best father I could possibly wish for, you know?

'I don’t see him as an actor. I see him very much as a dad, as somebody who loves travel and architecture more than being in movies.'

She also addressed the prospect of the pair getting married.

She said: 'People have made a lot out of it that we’re not, but we both have been married before, and it’s very easy to get married, but it’s not easy to build a family and be parents together.

'And maybe we’ve done it backwards, but we certainly feel married.'

The July issue of Vanity Fair is on sale Friday.