They are very close.
To lie: to intentionally give false information
To belie: to tell lies about; to slander
Examples: He lied about his age because he wanted to rent a car.
He belied his youth because he wanted to rent a car.
Confusing, right? Don't worry; belie is very rarely used. You can find it in Shakespeare, but I don't think I've EVER used "belie" in my life - and I'm 62! I think the only time I might use that word is if I'm trying to sound like I'm from the Middle Ages.
My advice - know that it is a word, but it is a word you'll never need. ;-)