Scottish DJ Calvin Harris is reportedly planning to propose to singer Taylor Swift by October-end with a $1.4 million engagement ring.

A source close to Harris, who was spotted shopping for jewellery, said: "He wanted something 'very special' for Taylor. He was asking about the best cuts and eyed a ring that (cost) $1.4 million! He was clearly eager to get the perfect rock, no matter the cost."

While they have not been in a relationship for very long, the 25-year-old singer's friends believe she's also ready to take the next step with her beau.

"She's not shy about telling anyone who'll listen that she loves him, and she's not being coy around him either. At a recent dinner, she blurted it out and asked if he'd ever consider marrying her!" an insider told OK! magazine.