It has been reported that Naomi Watts and Live Schreiber will soon be headed down the aisle after she accepted his marriage proposal. In fact, the couple has been seen in Los Angeles shopping for engagement rings.

One insider from the high-end store Antiquarius has told In Touch magazine that they were there earlier in the month looking at $400,000 rings.However, another source has told Star magazine that the couple already purchased a ring from famed celebrity jeweler Neil Lane.

According to that source, Watts and Schreiber bought a huge, cushion-cut, 5-carat diamond ring for $150,000.

Details of the engagement and pending nuptials are not yet known. The marriage will be the first for both Watts and Schreiber.