The Saturday Night Live star, 24, shared a new PDA-packed photo of the couple to Instagram on Friday, describing the happiness he has been feeling. “U know what you’d dream it be like? it’s better than that,” Davidson captioned a black and white picture of Grande, 24, sitting in his lap as he lovingly placed his hands over hers.
Also on Friday, Davidson was spotted leaving his fiancée’s hotel in New York City, dressed in bright yellow pants with a lit cigar in hand.
“It’s a recent engagement,” an insider told PEOPLE. “They’re just two people who found love quickly and make each other happy all the time. They both started talking about it this past weekend. It’s nothing they’ve been hiding.”
Grande, who has been wearing a $93,000 pear-shaped diamond on her left ring finger, appeared to have confirmed the news herself on social media, tweeting “I love u sm hi & thank u I love u bye,” and even responding to fans who called her “Mrs. Davidson.”
She first debuted the engagement ring at iHeartRadio’s Wango Tango concert June 2 in Los Angeles. Her diamond sparkler was custom-made by Manhattan-based jeweler Greg Yuna and features a sparkler with VVS1 clarity surrounded by a halo of smaller diamonds and set on a diamond platinum band.
The couple began dating in May, shortly after Grande’s breakup from rapper ex Mac Miller.
Davidson also confirmed in mid-May that he had split from his longtime girlfriend Cazzie David, around the same time he wrapped his fourth season performing on SNL.
“Everyone around them is super supportive and happy that they’ve found love,” a source told PEOPLE of the newly engaged duo.