The 20-year-old was photographed for the December issue as editor-in-chief Anna Wintour was eager to present her as a new fashion icon, but Wintour changed her mind after witnessing the singer's performance, reports showbizspy.com.
"Anna found the whole thing distasteful," said a source.
"She decided, based on Miley's performance, to take the cover in a different direction," the source added.
Even Cyrus' actor-fiance Liam Hemsworth wants to split from her after her act at the awards night.
"The VMAs is the straw that will break him. He wants out of the relationship. All of his family and management are begging him to break it off and publicly move on," said a source.
The couple was last seen publicly here at the premiere of Hemsworth's movie Paranoia on August 8.