It appears that wedding bells might ring soon for Nick Jonas and Olivia Culpo. The couple, who has been dating since August 2013, reportedly remains smitten. The former member of Jonas Brothers is reportedly planning to pop the big question as per one insider of Ok! Magazine.

"Nick has told everyone that he wants to spend the rest of his life with her. They are obsessed with each other and he has even said that he wants to ask her to marry him by the New Year!" said the source.

If Nick Jonas and Olivia Culpo's engagement will take place soon, the 22-year-old crooner will indeed have a busy year. On November 11, he wil be releasing his solo album which friends believe is "just the beginning."

For those wondering if Jonas will follow the footsteps of fellow child stars Amanda Bynes and Lindsay Lohan, friends say that he is focused on his well-being because he has been dealing with Type 1 Diabetes since 13 years old.

"Nick is just way to grounded for that. He takes immaculate care of his health and he has to because of his condition, " claimed the insider.

The couple remains mum about the status of their romance although the "Jealous" singer once talked about the story behind his single. As per Jonas, he was once out with the Miss Universe 2012 titlist when a guy was stared at Culpo "a little bit too long."

"It was uncomfortably long. I kind of got in my head about it for a moment. That's been the really interesting thing about this song and whole idea of jealousy: It's not the best character trait, but it's a very human thing. I think it happens to everybody at different moments. I'm in a very happy relationship and it was all in my head. That's what I pulled from this experience and the song," he explained.

What do you think of Nick Jonas and Olivia Culpo's possible engagement?