Katy Perry and Orlando Bloom might be ready to settle down.

On Monday, Nov. 28, Perry, 32, was spotted wearing a massive diamond ring on her left ring finger while on a date with the “Lord of the Rings” star sparking rumors that they might be engaged. The couple was spending some quality time together at The Polo Bar in New York City when the “Rise” hit maker was photographed wearing the ring, which is described as an oval cut yellow diamond surrounded by dainty baguettes, Entertainment Tonight reported. Check out the photo of Perry’s ring here.

Sources who saw the couple that night said Perry wasn’t hiding her possible engagement ring at all. “She walked with her left hand leading her, and bent her hand to show off the large sparkler to the cameras,” an eyewitness told the publication of Perry, who donned a black-and-white patterned jumpsuit and tan pea coat for the outing.

The eyewitness added that Perry and the 39-year-old actor, who have been dating for 10 months, walked into the bar at around 8 p.m. The two were reportedly holding hands as they arrived and “seemed proud to show off their happiness.”

“Katy's mood was better than [I] had seen before. Katy was happy and laughing, joking with Orlando and pals as they got into the car. [Katy and Orlando] seemed proud to show off their happiness,” the source added.

This news comes after rumors surfaced that Bloom wanted to break up with the singer because he didn’t want to settle down just yet. An In Touch Weekly source claimed the actor was “not just ready to get married and have babies.”

However, Perry seemingly addressed the split rumors when she shared a video on Snapchat of her spending Thanksgiving with Bloom and his family, according to E! News. The duo even wore matching onesies as they said "Hi" to the internet in the adorable clip.

Do you think Perry and Bloom could be looking to settle down and start a family? What did you think of the singer’s possible engagement ring? Share your thoughts in the comments!

katy perry Katy Perry was recently spotted wearing a massive diamond ring, sparking rumors that she's engaged to Orlando Bloom. Pictured: The “Dark Horse” singer performing on the final night at the Democratic National Convention in Philadelphia on July 28, 2016. Photo: Reuters/Mark Kauzlarich