An improved exercise machine has a stationary longitudinal monorail structure that extends between front and back end stationary exercise platforms, and an exercise platform mounted on a levitated carriage that is reciprocally movable along the monorail between the stationary platforms. Magnetic elements arranged on various opposing surfaces of the carriage and monorail generate magnetic forces that levitate and stabilize the carriage as it moves relative to the monorail thus substantially eliminating contact friction. Springs selectively attachable to the movable platform provide a resistance force for exercising. Pseudo-levitation and eddy brake elements on the carriage and monorail structure further stabilize the carriage and platform.