Ryan Seacrest is reportedly planning to propose to Julianne Hough soon.

The ‘American Idol’ host and the ‘Dancing With The Stars’ dancer went public with their romance last June and now friends have revealed the presenter has bought an engagement ring and is waiting for the perfect time to pop the question.

A friend said: "Ryan already has the ring -- and it's a rock -- four to five carats.

"Money was no object for Ryan - expect the Rolls Royce of engagement rings.

"He's had it for a while and is in the process of planning the engagement. It's going to happen within the next few months or so!"

Another pal refused to confirm or deny the report, but did admit 36-year-old Ryan has never been happier.

The friend told website RadarOnline.com: "If Ryan was planning to propose, why would I spoil the whole surprise for him?

"I don't think I've ever seen him like this over a girl before, ever... they fit together so perfectly.

"All his family adore her too, and I know his mom would be really happy to see him settle down with Julianne and work on giving her some grandchildren!"

Ryan recently denied he is already engaged but admitted he is smitten with Julianne, 22.

He said: "I'm not engaged. I'm very happy."