Cheryl, 34, and Matthew, 38, may even have the location for their ceremony picked out already, as a private island in the Philippines called Amanpulo seemingly captured their hearts.
"We went with Cheryl's family over the holidays and it's just such a magical place," said the former Boy Meets World and Brotherly Love star.
The couple announced their engagement on May 3, when Matthew popped the question at sunset while celebrating Cheryl's birthday in their Laguna Beach, CA, hotel room.
"I handed her this note that said, 'I will love you always and forever. That's what's engraved in this ring -- I want you to marry me,'" Matthew recalled.
Cheryl then said she broke down into tears upon accepting her longtime love's proposal.
"I had chills all over," the professional dancer told Us. "It was perfect."
The pair reportedly began dating in February 2007 and stayed together for about a year before calling it quits on their relationship in February 2008.
Cheryl and Matthew reconciled nearly a decade later in February 2017. In September of that year, Cheryl admitted to People she regretted letting her romance with Matthew end.
"When we first dated, we were both young and immature, and I was so new to this [celebrity] world," she revealed of why their relationship didn't work the first time around.
"Now we are both adults and feel balanced. He's such a great guy. He's so normal, considering we're in this crazy business. It's so nice to be able to come home to him... He's someone I definitely do see spending the rest of my life with."
Cheryl joined Dancing with the Stars all the way back in Season 2 and has won two mirrorball trophies since. The brunette beauty has graced the ballroom almost every season with the exception of only a few to pursue other career interests.