From the Statesman's Suzanne Halliburton:
Rumors continued to swirl late Wednesday on whether Longhorns defensive coordinator and coach-in-waiting Will Muschamp would jump to Tennessee, but Texas football spokesman John Bianco said late Wednesday night that Muschamp has not interviewed with the Volunteers.
Further, Bianco said that Muschamp told him Wednesday that he is "happy here and plans on being at Texas for a long time."
Muschamp was in Austin on Wednesday, despite media reports from Texas to Tennessee that placed him away from the city and meeting with Volunteers athletics director Mike Hamilton.
So that would seem to settle that at least for now, but stuff like this will continue to come up until Muschamp is named head coach.
Kudos to our readers for not doing this.