Rumors are swirling that actress Penelope Cruz and her Oscar-winning boyfriend Javier Bardem are engaged. Bardem is said to have proposed during a recent romantic vacation in France and the two will marry later this year.

According to reports, the couple is already busy planning a wedding. Friends also claim that Bardem, who won an Academy Award for his role in "No Country For Old Men," was encouraged by his mother to propose to Cruz.

The couple met in their native Spain last year and began dating after shooting the Woody Allen movie "Vicky Cristina."

Cruz has had several much-publicized romances with other actors, including Tom Cruise and Matthew McConaughey.