Robert Pattinson and Suki Waterhouse are Engaged

British beloved couple Robert Pattinson and Suki Waterhouse are engaged.

The couple — who recently sparked buzz when Waterhouse was photographed wearing a diamond ring on her left hand — are engaged, a source told PEOPLE.

“They are engaged. They both want to be married. It’s important for them,” the source said.

In November, the couple announced that they were expecting their first child together. The insider tells the outlet that the Batman star “can’t wait to be a dad.” 

“He’s so ready. His relationship with Suki is incredible. He feels very lucky,” the source added. Meanwhile, the Daisy Jones & the Six star has the “special glow” and “seems very happy,” says the source.

Earlier this week, the couple sparked engagement rumors after Waterhouse was spotted wearing a ring on her left hand while they were seen walking around London on Monday, in photographs published by TMZ.

The couple’s engagement follows Waterhouse’s announcement that they are expecting while performing onstage at last month's Corona Capital Festival in Mexico.

In a fan-captured video posted on X (formerly Twitter), she addressed her glittery pink outfit, telling the audience, "I'm extra sparkly today because I thought it might distract you from something else that's going on."

She then opened the feathery coat she was wearing over her formfitting minidress to reveal a baby bump, prompting cheers and applause from the crowd. "I'm not sure if it's working," she added. 

A week later, a source told PEOPLE the couple are "thrilled" about having their first child on the way. "A baby coming is an absolute joy for them," the source said. "They are thrilled beyond words.”

Another source added, "They are ready for a child, and looking forward to becoming parents. Even though they are both professionals who work a great deal, this is something they want. They know their lives will change, and they are excited.”

Pattinson, 37, and Waterhouse, 31,  were first romantically linked in July 2018 and began living together in London during the coronavirus pandemic, where he filmed his titular superhero role in "The Batman".

During that time, an insider told PEOPLE that their relationship appeared to be "On the fast track,".

"They are very loved-up," the source said in July 2020. "They haven't been together that long. But everything seems on the fast track. They are always laughing and smiling at each other,".

During his appearance on Jimmy Kimmel Live! in February, Pattinson disclosed that seeing Waterhouse's reaction to "The Batman" had "kind of changed the entire thing" for him.

"I'm pretty sure she's not normally into watching superhero movies," Pattinson said. "And just seeing that it was capturing her attention the entire time, and then she held my hand and touched it [to her face] and I could feel a little tear. And I was like, 'No way!' ".

In an interview with "The Sunday Times" in February 2023, Waterhouse opened up about her long-term relationship with Pattinson.

"I'm shocked that I'm so happy with someone for nearly five years," she said, adding that the couple never goes more than two months without seeing each other. 

"I had two days off the other day, and it was like, no question I'm going back to see him,".

Waterhouse also shared that she still gets "incredibly excited" when Pattinson's name pops up on her phone.

"I think he feels the same about me," she noted. "We've always got so much to say, and I find him hilarious."

In May, the couple attended the Met Gala together for the first time. The "Daisy Jones & The Six" star dazzled in a sheer floral dress, while the Twilight alum looked handsome in a custom blue suit that featured a sweeping pleated skirt.