Larsa Pippen Packs on PDA With New BF Jeff Coby on Yacht

Larsa Pippen's getting her new boyfriend up to speed ... because she's hanging out with him on a yacht, and she's showing off her body in a skimpy bikini.

"The Real Housewives of Miami" star was in her element Monday in South Beach ... cruising around the waterways on a fancy boat with the new baller in her life ... 31-year-old former pro basketball player Jeff Coby.

Larsa was practically busting out of her brown bikini ... she had her hair up in a bun and drank orange juice from a champagne glass.

She parked her booty down on the edge of some wraparound seating, showing off her assets. Hey, Larsa's never been shy.

Larsa and Jeff shared a kiss on one of the decks ... and they were joined on the voyage by a reality TV couple ... Caroline Stanbury and Sergio Carrallo from 'Real Housewives of Dubai.'

We broke the story ... Larsa and Jeff have been exclusive since early this year, and they met in January at the 10-year anniversary bash for David Alexander's DBC Fitness gym at ZZs Club Miami.

Larsa, Scottie Pippen's ex-wife, used to date Michael Jordan's son Marcus ... and we often saw the exes hanging out in Miami on yachts or at the beach, with Larsa often wearing a bikini.