Taylor Swift and Calvin Harris’ relationship is moving pretty fast and he is rumored to have already purchased an engagement ring for the “Style” singer.

Harris, 31, reportedly bought or is thinking of buying Swift, 25, a 10-carat engagement ring worth $500,000 after about four months of dating.

A source told Life & Style, Harris is “on the fence” on the location of his proposal, “because Taylor has so many favorite places,” the source said. “He thought of romantic Paris or Italy, but now he’s leaning toward Nashville, where she has one of her homes.”

They were first linked in April and have since publicly gushed about each other in interviews.

Harris said on KISS FM UK’s radio show earlier this month that he’s “insanely happy” with her. "It's boxes I didn't even know existed, she ticks,” he said.

He did poke fun at rumors about their relationship, saying the stories can get pretty “ridiculous.”

"Whether I'm allergic to cats or we're moving in or we're getting married next week, you've just got to take it how it is, which is just that sort of news story which people read,” he said.

image via Dara Kushner/INFphoto.com