diff --git a/src/Controls/src/SourceGen/KnownMarkups.cs b/src/Controls/src/SourceGen/KnownMarkups.cs
index 0c769f625592..c9ade31c9a2a 100644
--- a/src/Controls/src/SourceGen/KnownMarkups.cs
+++ b/src/Controls/src/SourceGen/KnownMarkups.cs
@@ -341,23 +341,25 @@ private static bool ProvideValueForBindingExtension(ElementNode markupNode, Inde
 		returnType = context.Compilation.GetTypeByMetadataName("Microsoft.Maui.Controls.BindingBase")!;
 		ITypeSymbol? dataTypeSymbol = null;
 		
-		// Check if the binding has a Source property with a RelativeSource.
-		// In this case, we should NOT compile the binding using x:DataType because
-		// the source type will be determined at runtime by the RelativeSource, not x:DataType.
-		bool hasRelativeSource = HasRelativeSourceBinding(markupNode);
+		// When Source is explicitly set (RelativeSource or x:Reference), x:DataType does not describe
+		// the actual source — skip compilation and fall back to runtime binding.
+		bool hasExplicitSource = HasExplicitBindingSource(markupNode);
 		
 		context.Variables.TryGetValue(markupNode, out ILocalValue? extVariable);
 		
-		if (   !hasRelativeSource
-			&& extVariable is not null
-			&& TryGetXDataType(markupNode, context, out dataTypeSymbol)
-			&& dataTypeSymbol is not null)
+		if (   !hasExplicitSource
+			&& extVariable is not null)
 		{
-			var compiledBindingMarkup = new CompiledBindingMarkup(markupNode, GetBindingPath(markupNode), extVariable, context);
-			if (compiledBindingMarkup.TryCompileBinding(dataTypeSymbol, isTemplateBinding, out string? newBindingExpression) && newBindingExpression is not null)
+			TryGetXDataType(markupNode, context, out dataTypeSymbol);
+
+			if (dataTypeSymbol is not null)
 			{
-				value = newBindingExpression;
-				return true;
+				var compiledBindingMarkup = new CompiledBindingMarkup(markupNode, GetBindingPath(markupNode), extVariable, context);
+				if (compiledBindingMarkup.TryCompileBinding(dataTypeSymbol, isTemplateBinding, out string? newBindingExpression) && newBindingExpression is not null)
+				{
+					value = newBindingExpression;
+					return true;
+				}
 			}
 		}
 
@@ -628,10 +630,10 @@ static bool IsBindingContextBinding(ElementNode node)
 				&& propertyName.LocalName == "BindingContext";
 		}
 
-		// Checks if the binding has a Source property that is a RelativeSource extension.
-		// When a binding uses RelativeSource, the source type is determined at runtime,
+		// Checks if the binding has a Source property set to RelativeSource or x:Reference.
+		// When Source is explicitly set, x:DataType does not describe the actual binding source,
 		// so we should NOT compile the binding using x:DataType.
-		static bool HasRelativeSourceBinding(ElementNode bindingNode)
+		static bool HasExplicitBindingSource(ElementNode bindingNode)
 		{
 			// Check if Source property exists
 			if (!bindingNode.Properties.TryGetValue(new XmlName("", "Source"), out INode? sourceNode)
@@ -640,12 +642,13 @@ static bool HasRelativeSourceBinding(ElementNode bindingNode)
 				return false;
 			}
 
-			// Check if the Source is a RelativeSourceExtension
+			// Check if the Source is a RelativeSourceExtension or ReferenceExtension
 			if (sourceNode is ElementNode sourceElementNode)
 			{
-				// Check if the element is a RelativeSourceExtension
-				return sourceElementNode.XmlType.Name == "RelativeSourceExtension"
-					|| sourceElementNode.XmlType.Name == "RelativeSource";
+				return sourceElementNode.XmlType.Name is "RelativeSourceExtension"
+					or "RelativeSource"
+					or "ReferenceExtension"
+					or "Reference";
 			}
 
 			return false;
diff --git a/src/Controls/tests/SourceGen.UnitTests/BindingDiagnosticsTests.cs b/src/Controls/tests/SourceGen.UnitTests/BindingDiagnosticsTests.cs
index e106ffcddcb3..61471531093e 100644
--- a/src/Controls/tests/SourceGen.UnitTests/BindingDiagnosticsTests.cs
+++ b/src/Controls/tests/SourceGen.UnitTests/BindingDiagnosticsTests.cs
@@ -1,3 +1,4 @@
+using System;
 using System.Linq;
 using Microsoft.CodeAnalysis;
 using Microsoft.Maui.Controls.SourceGen;
@@ -250,6 +251,58 @@ public class ViewModel
 		Assert.Equal(DiagnosticSeverity.Warning, diagnostic.Severity);
 	}
 
+	[Fact]
+	public void BindingWithXReferenceSourceInDataTemplate_DoesNotReportFalsePositive()
+	{
+		var xaml =
+"""
+<?xml version="1.0" encoding="UTF-8"?>
+<ContentPage
+	xmlns="http://schemas.microsoft.com/dotnet/2021/maui"
+	xmlns:x="http://schemas.microsoft.com/winfx/2009/xaml"
+	xmlns:test="clr-namespace:Test"
+	x:Class="Test.TestPage"
+	x:Name="PageRoot"
+	x:DataType="test:ViewModel">
+	<CollectionView ItemsSource="{Binding Items}">
+		<CollectionView.ItemTemplate>
+			<DataTemplate x:DataType="test:ItemModel">
+				<Button Text="{Binding Name}"
+						Command="{Binding Source={x:Reference PageRoot}, Path=BindingContext.SelectItemCommand}"
+						CommandParameter="{Binding .}" />
+			</DataTemplate>
+		</CollectionView.ItemTemplate>
+	</CollectionView>
+</ContentPage>
+""";
+
+		var csharp =
+"""
+namespace Test;
+
+public partial class TestPage : Microsoft.Maui.Controls.ContentPage { }
+
+public class ViewModel
+{
+	public System.Collections.Generic.List<ItemModel> Items { get; set; }
+	public Microsoft.Maui.Controls.Command SelectItemCommand { get; set; }
+}
+
+public class ItemModel
+{
+	public string Name { get; set; }
+}
+""";
+
+		var compilation = CreateMauiCompilation()
+			.AddSyntaxTrees(Microsoft.CodeAnalysis.CSharp.CSharpSyntaxTree.ParseText(csharp));
+		var result = RunGenerator<XamlGenerator>(compilation, new AdditionalXamlFile("Test.xaml", xaml), assertNoCompilationErrors: false);
+
+		// x:Reference bindings skip compilation entirely — no MAUIG2045 should be emitted
+		// for properties on the DataTemplate's x:DataType (ItemModel).
+		Assert.DoesNotContain(result.Diagnostics, d => d.Id == "MAUIG2045" && d.GetMessage().Contains("ItemModel", StringComparison.Ordinal));
+	}
+
 	[Fact]
 	public void BindingIndexerTypeUnsupported_ReportsCorrectDiagnostic()
 	{
diff --git a/src/Controls/tests/Xaml.UnitTests/Issues/Maui34490.xaml b/src/Controls/tests/Xaml.UnitTests/Issues/Maui34490.xaml
new file mode 100644
index 000000000000..6edb2be3bdad
--- /dev/null
+++ b/src/Controls/tests/Xaml.UnitTests/Issues/Maui34490.xaml
@@ -0,0 +1,17 @@
+<?xml version="1.0" encoding="utf-8" ?>
+<ContentPage xmlns="http://schemas.microsoft.com/dotnet/2021/maui"
+             xmlns:x="http://schemas.microsoft.com/winfx/2009/xaml"
+             xmlns:local="clr-namespace:Microsoft.Maui.Controls.Xaml.UnitTests"
+             x:Class="Microsoft.Maui.Controls.Xaml.UnitTests.Maui34490"
+             x:Name="PageRoot"
+             x:DataType="local:Maui34490ViewModel">
+    <CollectionView ItemsSource="{Binding Items}">
+        <CollectionView.ItemTemplate>
+            <DataTemplate x:DataType="local:Maui34490ItemModel">
+                <Button Text="{Binding Name}"
+                        Command="{Binding Source={x:Reference PageRoot}, Path=BindingContext.SelectItemCommand}"
+                        CommandParameter="{Binding .}" />
+            </DataTemplate>
+        </CollectionView.ItemTemplate>
+    </CollectionView>
+</ContentPage>
diff --git a/src/Controls/tests/Xaml.UnitTests/Issues/Maui34490.xaml.cs b/src/Controls/tests/Xaml.UnitTests/Issues/Maui34490.xaml.cs
new file mode 100644
index 000000000000..9787cce17e40
--- /dev/null
+++ b/src/Controls/tests/Xaml.UnitTests/Issues/Maui34490.xaml.cs
@@ -0,0 +1,49 @@
+using System;
+using System.Collections.Generic;
+using System.Windows.Input;
+using Microsoft.Maui.ApplicationModel;
+using Microsoft.Maui.Controls.Core.UnitTests;
+using Xunit;
+
+namespace Microsoft.Maui.Controls.Xaml.UnitTests;
+
+public class Maui34490ViewModel
+{
+	public List<Maui34490ItemModel> Items { get; set; }
+	public ICommand SelectItemCommand { get; set; }
+}
+
+public class Maui34490ItemModel
+{
+	public string Name { get; set; }
+}
+
+public partial class Maui34490 : ContentPage
+{
+	public Maui34490() => InitializeComponent();
+
+	[Collection("Issue")]
+	public class Tests : IDisposable
+	{
+		public Tests() => AppInfo.SetCurrent(new MockAppInfo());
+		public void Dispose() => AppInfo.SetCurrent(null);
+
+		[Theory]
+		[XamlInflatorData]
+		internal void XReferenceSourceInDataTemplateShouldNotWarn(XamlInflator inflator)
+		{
+			if (inflator == XamlInflator.SourceGen)
+			{
+				var result = MockSourceGenerator.CreateMauiCompilation()
+					.RunMauiSourceGenerator(typeof(Maui34490));
+				// The path is resolved against ContentPage (x:Reference target), NOT Maui34490ItemModel (x:DataType).
+				// BindingContext is 'object' on BindableObject, so SelectItemCommand warning on 'object' is expected,
+				// but a warning mentioning Maui34490ItemModel would mean it's still resolving against the wrong type.
+				Assert.DoesNotContain(result.Diagnostics, d => d.Id == "MAUIG2045" && d.GetMessage().Contains("Maui34490ItemModel", StringComparison.Ordinal));
+			}
+
+			var page = new Maui34490(inflator);
+			Assert.NotNull(page);
+		}
+	}
+}