Entertainment Tonight.

Olivia Wilde, 28, and Saturday Night Live star Jason Sudeikis, 38, are engaged, People is reporting.

The pair, who went public in December of 2011, moved in together last year and have been seemingly inseparable since.

Related: Olivia Wilde Divorces Italian Royal

According to the magazine, Sudeikis proposed to the Tron: Legacy star shortly after the holidays.

"They are so excited," says a source. "And very, very happy."

No word yet on a wedding date.

Video: Olivia Wilde Steams Up the Screen

This will be the second wedding for Wilde, whose divorce to Italian royal Tao Ruspoli was finalized in late September of 2011.

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