Paul McCartney and Nancy Shevell at the Costume Institute Gala in New York City this week. (Stephen Lovekin/Getty Images)

People magazine reports that the former Beatle, 68, and Nancy Shevell, 51, his girlfriend of four years, have gotten engaged.

“Nancy and Paul are getting married,” an unnamed source tells the magazine. “Ring and all — very exciting.”

The relationship between McCartney and Shevell first became media fodder in 2007, while both were in the midst of divorces from previous spouses. In McCartney’s case, that was second wife Heather Mills. In Shevell’s, it was lawyer Bruce A. Blakeman. According to the New York Times, Shevell is the vice president of New England Motor Freight, her family’s business. She is also a member of the board of New York’s Metropolitan Transit Authority.

McCartney’s first wife, Linda McCartney, died of breast cancer in 1998. Shevell is a breast cancer survivor.

Rumors of a potential wedding between McCartney and Shevell circulated as long ago as 2009. Assuming People’s report is accurate, those rumors may finally be becoming reality.