Have ya heard? Wolverine & Hercules are gay lovers! How is this Avengers/X-Men coupling even possible, you ask? Both characters have always been straight, wouldn't this just mess up the canon?
Did someone in Marvel read that slashfic you wrote about 'em? Well it all happens in an alternate timeline of course! (Edit: Hercules of Earth-616 appears to be bisexual, he even slept with Northstar! Thanks to Anonymous & Justin for informing us of this awesome piece of trivia in the comments section below).
It all went down in the pages of (the now cancelled) X-Treme X-Men. This book has a similar concept to The Exiles in which our dimension's Dazzler embarks on adventures with alternate versions of familiar characters. Howlett, an alternate version of Wolverine and an alternate Hercules are in a relationship. Kudos to Marvel for having the balls to do this!
Here are some scans from X-Treme X-Men #9 featuring Howlett & Herc in all their beefcake glory.