We hear wedding bells! Katie Holmes and Jamie Foxx’s romantic and very public Labor Day beach stroll in Malibu isn’t the only indication that the duo are finally ready to let the world know they love each other. “Jamie recently sat down with his closest friends and told them that he plans to marry Katie and have a baby with her,” an insider exclusively reveals to Life & Style.

And it’s not just talk. Jamie, 49, secretly proposed to Katie, 38, in February, a second insider says, and gave her a ring. “Katie has even worn the ring in front of friends,” the second source notes, “but she’s always denied that it was an engagement ring.”

In fact, they’ve both refused to even admit they’re a couple at all, even though Life & Style first broke the news that they were dating way back in 2013. But now those denials are becoming a thing of the past. Jamie recently gave the thumbs-up when a reporter asked about the relationship with Katie, and the second insider says that after keeping things on the DL for four years, Jamie has finally given Katie the green light to be open and honest about their romance.

“This is a dream come true for Katie,” the second insider says. “For years, she has wanted Jamie to be her husband and has wanted to give her daughter, Suri, a brother or sister — and now Jamie’s ready to give that all to her. Now she feels like all their time spent hiding was well worth it.”

Katie was previously married to Tom Cruise from 2006 to 2012, and they share an 11-year-old daughter, Suri. Jamie has two daughters, Corinne, 22, and Annalise, 7, from a previous relationship.

For more on this story, pick up the latest issue of Life & Style, on newsstands now!