Katy Perry and Orlando Bloom plan to start a family of their own.

“Katy is slowing down her career this year,” a source tells PEOPLE, adding that the couple, who got engaged on Valentine’s Day, “want to get married and start a family sooner rather than later.”

A Bloom source agrees, telling PEOPLE, “They both want kids together and will prioritize this.”

Bloom is already a father to 8-year-old son Flynn, whom he shares with ex-wife Miranda Kerr.

The source went on to share that the couple’s decision to take their relationship to the next level wasn’t a spur-of-the-moment choice.

“They’ve been talking about getting engaged for a while. After reconciling Katy has felt very secure with Orlando and they both knew it was different this time,” the source says.

“They made their relationship a priority and both of them literally flew all around the world to keep their relationship strong.”

“She was in such a bad place after her split from Russell [Brand], so to be getting married again is a huge deal. Their friends and family are so happy and excited for them,” the insider adds, referencing Perry’s ex-husband, whom she split from in 2011.

Perry previously discussed her decision to take a year-long break from touring and putting together a new album earlier this month.

At the start of her interview with Paper magazine, which was published on Feb. 8, the “Bon Appétit” singer shared that she’s toying with the idea of going to school, and has even looked into college at London’s Oxford University, which caters to mature students.

“A lot of people go who have already had success in their careers at 45, and they’re like, ‘Well, what the f— do I do now?’ That was interesting, because it would be very Harry Potter for me,” she shared.

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