Did Jonah Hill really turn down Transformers 2?

Word out of IESB regarding Jonah Hill and Transformers 2 has some interesting insights into why Hill and Bay parted ways. It was reported a while back that Hill was up for the role of Shia LaBeouf's roommate/sidekick in the film, and he was essentially hired on the spot. After being offered the job, he went into Bay's office to read the script, got through twenty pages of the character named Jonah and silently got up and walked out. Below is part of an email exchange forwarded onto IESB regarding the reading.

You know how Jonah Hill was attached to TRANSFORMERS 2, and then was suddenly and without explanation un-attached? Apparently, Jonah was more or less offered the part in the room, but then had to go into Bay's office to read the script - because it's so super top secret and the plot is so extra-specially complex, you know.

Jonah sits down, opens the script. The character of the chubby sidekick is named "Jonah." How perfect. Jonah reads 20 pages of the script, puts it down, and silently walks out of the room. Wants no part of it. Next thing you know, his reps call Bay, he's off the project.

So either the script was really that bad, or Hill has had enough of those roles. I'm hoping (and guessing) that it's the latter, considering the amount of humor a character like Jonah would be expected to add to the film. Since Hill is out, they should get the kid from the first film that said the arrival was "easily 100 times cooler than Armageddon."

Hill walked out of Transformers 2 script reading