Orlando Bloom just proposed to Katy Perry with a flower-shaped ruby ring that possibly amounts to $5 million, according to some estimates, and now they're ready to expand their family and spend some of that cash money on diapers.

According to a People source, Katy is planning on "slowing down her career this year" so she can get to nesting and having kids. The timing, according to the source, will be "sooner rather than later."

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Clearly, that's super vague, but it sounds like Katy and Orlando are extremely excited to make that step, so don't expect them to wait too long. BTW, Orlando has an adorable 8-year-old son named Flynn, who he had while he was married to model Miranda Kerr.

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They also added that the decision for them to get engaged wasn't made lightly, especially considering they had taken some "respectful, loving" time apart back in 2017. Talking to People, the source said Katy and Orlando have "been talking about getting engaged for a while. After reconciling, Katy has felt very secure with Orlando and they both knew it was different this time. They made their relationship a priority and both of them literally flew all around the world to keep their relationship strong."

Anyone else super excited to see her nursery and the inevitable Candy Land-like decor?