“They are planning a vacation for the holidays,” a source tells PEOPLE. The couple are fond of traveling together, as they’ve already visited Hawaii, Italy and France during their nearly one-year romance.
Their forthcoming getaway comes after the pair, who were first linked in January at a Golden Globes bash, stirred up engagement rumors when the singer was spotted wearing a diamond ring on that finger last week.
“Orlando is very happy with Katy. They are not engaged yet, but are very serious,” added the insider, who also explained that Perry, 32, and Bloom, 39, have been focused on making their relationship work amid busy work schedules.
For more on Katy Perry and Orlando Bloom’s romantic holiday plans, pick up the latest issue of PEOPLE, on newsstands Friday.
“When Orlando filmed in China, they kept in touch via FaceTime. It was sort of a trial to see how they would feel after they spent weeks apart. It seems they are happier than ever,” the source shared. “Orlando loves how independent and strong Katy is. He is very proud of how much she got involved with the election.”
WATCH: Ready to Propose? Orlando Bloom Wants Children with Katy Perry, Sources Say
After celebrating Halloween with his girlfriend, the British actor spent Thanksgiving with Perry and her family. The Grammy-nominated hitmaker documented the holiday gathering on her Instagram story, showing off her siblings’ and parents‘ Keith and Mary Hudson’s matching pajamas in addition to a video of Bloom cradling a baby.
And Perry has already met Bloom’s family, including his mother, Sonia, and his son, Flynn, who he shares with ex-wife Miranda Kerr. In March, the couple traveled to England where she was introduced to his friends and relatives.