Is there such a thing as platonic cuddling?

I was watching a movie with a pretty close male friend last night. It was Titanic, which is obviously considered a really romantic movie, but it was just what we happened to pick. He and I were watching it together on his couch in his dorm, and towards the end of the movie, where it gets sad, he was like, "oh, no" and put his arm around me, and kind of cuddled with me through the rest of the film. I kept my knee up as sort of a barrier, and kind of sat with my mouth covered the whole time, just to omit the possibility of him making a move or anything of that sort. After the movie, we were walking around, and he was asking me what girls like, in terms of hooking up. Among my answers was 'spontaneity.' When I explained that, he said, "like this?" and leaned down as if he were going to kiss me. I wasn't sure if he was doing it jokingly or not, so I kind of pushed him away and was like, "yeah, just like that bud."

I think it seems like he likes me, though he usually isn't like this around me. I only have platonic feelings for him...should I say something to make sure he knows that I see him only as a friend, or am I over reacting and he was joking around? I don't want to lead him on. Thanks, guys!
Is there such a thing as platonic cuddling?
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