Katy Perry and Orlando Bloom planning engagement party

The 34-year-old singer and Orlando, 42, announced their engagement last week, and it has now been claimed they are going to host a celebratory bash in honour of their relationship milestone, so their friends and family can all give their well wishes to the couple.

A source told People magazine: "They are still busy enjoying and celebrating their engagement. They haven't shared any wedding details yet. They are planning a big engagement party for all of their friends.

"It will be very special. They are both so happy and excited to be engaged."

The news comes after it was recently revealed the 'Roar' hitmaker was "shaking with happiness" when the 'Pirates of the Caribbean' actor proposed.

An insider said: "Katy was very surprised and shaking with happiness."

Orlando - who has an eight-year-old son called Flynn with his ex-wife, model Miranda Kerr - approached the proposal in a traditional way, seeking her parents' permission behind he asked Katy to marry him.

The source shared: "Katy's family knew he was proposing. He talked to her parents about it before."

Meanwhile, another source previously claimed Katy is convinced Orlando is the "right man for her life".

The loved-up duo - who split in 2017, before rekindling their romance last year - are "over the moon" about the thought of married life.

The source explained: "Katy and Orlando have been looking forward to this day for a very long time and they are over the moon to embark on their lifetime commitment.

"They talked about an engagement even before their break-up in 2017 but Katy wasn't ready. She just wasn't ready at first but soon after some time away, she knew Orlando was the right man for her life."