RED-FACED RYAN ENDS UP HOLDING THE (GIRLY) BAG!

Ryan Seacrest Outed With Taylor Swift Purse

IMAGINE MIKEY nailing My Favorite Metrosexual RYAN SEACREST red-handed while waltzing around Hollywood – sporting a PURSE!

That dream scoop damn near coulda come true, folks, at the iHeartRadio Music Awards when star-kissed TAYLOR SWIFT – seated next to pal Ryan – suddenly heard her name called for Artist of the Year and scampered stage-ward, begging: “Please hold my purse, Ryan!”

Scooped My SpyWitness: “Swift snagged her award, but then disappeared backstage – and Ryan freaked because he had to do press. He refused to abandon Taylor’s purse … but sure didn’t want to carry it around, saying, ‘Can you imagine what people will say if I’m carrying a girly-bag? Like rumors about me aren’t bad enough?!’

Seeing MADONNA headed backstage, he asked her to return the bag – but Madge missed Taylor, who suddenly was back at absent Ryan’s table, mewling: ‘Where’s my purse?!’ Everyone went into total panic mode, searching for Madonna – but no one could find her!” The bizarre brouhaha mercifully ended when a security guard Ryan had tipped spotted Material Girl about to depart in her limo – and snagged Taylor’s bag! (Seacrest … OUT!)