Demi Lovato and Wilmer Valderrama have been dating off and on for quite sometime and it looks like the former "That 70s Show" star maybe looking to get engaged to his girlfriend over the holidays. New reports have revealed that the 33-year-old actor already bought the "Heart Attack" singer's engagement ring from Tiffany's.

According to Hollywood Life, Valderrama has been holding on to a new ring for Lovato since November. The couple were previously spotted on an amusement park date around Halloween and seen getting cozy on December 5th at a NYLON party.

An insider told RadarOnline that the 33-year-old brought a ring for the 21-year-old on November 20th from Tiffany's in Pasadena, California that was engraved with the quote, "With you and by you always."

When Lovato turned 21 back in August Valderrama tweeted her a heartfelt message which read, "I've been so proud of the strength & commitment you've gained 4 life, keep inspiring us all! Happy birthday my @ddlovato! With & by u always."

The insider revealed, "It looked like an engagement ring, but could have just been a nice expensive ring he was giving to Demi," adding, "He was really low-key at the store and was trying to stay under the radar."

After their split in January 2012, the two spent some time apart. However, back in October an insider confessed, "They have been together for quite awhile," adding, "Demi is very good at keeping secrets."

The source continued, "They are in love and nothing is going to change that," adding, "They are not going to broadcast anything but if they happen to be caught in a PDA moment in the future they will not change what they are doing as they are very fond of each other."

Do you think the ring Wilmer Valderrama brought from Tiffany's is a present or engagement ring for Demi Lovato? Let us know your thoughts in the comment section below.