"Don is so in love with Diane. She fills his heart every day in every way with love and joy," an insider tells PEOPLE

By Karen Mizoguchi and Charlotte Triggs
February 11, 2020 10:00 AM
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Credit: Don Felder

Don Felder and Diane McInerney are set to marry!

PEOPLE can exclusively announce the engagement of the former Eagles lead guitarist, 72, and the 48-year-old Inside Edition weekend anchor.

After two years of dating, Felder proposed on Jan. 19 during a sunset stroll on the beach in Malibu, California, with a custom-made, five-carat round brilliant cut diamond ring.

The location was special to Felder as it was near where the place he co-composed the music for the Eagles’ 1976 hit “Hotel California.”

And following the proposal, he surprised his fiancée with an “engagement-moon” at the Chable Maroma resort in Mexico to celebrate.

“Don is so in love with Diane. She fills his heart every day in every way with love and joy. Diane is beyond excited to be engaged to the love of her life. Their friends and family are thrilled for their happiness,” an insider close to the couple tells PEOPLE.

Credit: Michael Helms

This will be the musician and the anchor’s second marriage.

Felder wed Susan Pickersgill in 1971, but after three decades of marriage, they divorced in 2000. The pair share four children; Jesse N. Felder, Rebecca Felder, Cody William Felder and Leah Jenner, who was previously married to reality star Brandon Jenner.

Credit: Michael Helms

Following the 1980 breakup of the Eagles, Felder ventured into a solo career and helped Diana Ross, Barbra Streisand, Andy Gibb and Stevie Nicks with their projects.

Then in 1983, he released his first solo album Airborne. It would take nearly 30 years later for him to drop a second solo album, titled Road to Forever, in October 2012.

His latest work, American Rock ‘N’ Roll, was released in April 2019, and features a song he wrote for McInerney called “Falling in Love Again.”

Felder has been on a nationwide tour since the debut of his third studio album. His next show is on Wednesday in Ft. Lauderdale, Florida.