The pair bumped into each other at rocker Joan Jett's recent concert at West Hollywood's House of Blues, reported Showbizspy.
Stewart and Keough first met in 2010 while co-starring in "The Runaways", a biopic about Joan's life.
Stewart, 23, starred as Joan in the film, while Keough, 24, played fellow female rocker Marie Currie.
"It was weird when they saw each other, because Kristen didn't look very happy when she walked over to give her a hug," a source said.
"They spoke for like two minutes and then Riley and her girlfriend walked away. Kristen watched the show from upstairs and I am pretty sure Riley kept her distance and was watching from downstairs," it added.
"She is the first girl he has liked since Kristen. They're having a lot of fun," the source said.
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