What does "no homo" mean?

It's a phrase that has been used a lot by celebrities when they are portraying something in a movie. It means that I have no homosexual intent in doing what I am doing right now.  You might want to look up the phrase on Google and look under Wikipedia and see what the celebrities were doing when they said no homo in their movies.

It is the idea that if you do something gay, and say "no homo" is isn't really gay.

Of course, it still is, so saying no homo really does nothing.