Michael and Holly had also allegedly recently gotten engaged, according to the In Touch report, which claimed the two couples were shopping a reality show to networks.
"They're pitching their show all around town," an insider told the magazine. "They want a double wedding and are hoping that it all gets aired on TV."
Stephen had denied he and DeAnna had gotten engaged but suggested that could change soon while attending the July 17 wrap party for Bachelor Pad, the new The Bachelor franchise spinoff that premiered on ABC last night.
"We are not engaged. Don't have a ring yet, so it's hard to propose," he told People.
Michael had also suggested the brothers weren't likely to remain bachelors much longer.
"[Stephen and I] are honestly so in love and so happy," he told People. "Rings are coming!"
Holly had also told People she expected Michael to propose soon and admitted the couples were considering a double wedding.
"We've already talked about it, all four of us," she said. "If we were to do it, we'd have two different ceremonies and one huge reception."