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1.
A sentence used while dumping someone. What it really means is that you two will still be friends, but nothing more. In other words, no more pussy.
Sean, I feel like my feelings for you have been fading. I shouldn't have said yes to you in the first place, but I still want to be friends. That's OK right? (gives innocent smile)
by SuPaPnOy2ReSQU June 15, 2004
 
2.
An old cliché used, mostly by girls, who dump their boyfriend/girlfriend, to try to lessen the blow and hurt they will go through for months. However, being friends can never happen and they will soon forget about you, leaving you to pick up the broken pieces of your heart all alone.
Girl: "I don't want a boyfriend anymore, I'm so sorry. But I still want to be friends"
by Colesyyy July 04, 2009