A source says, "Keanu didn't work up the nerve to propose until last week."
And insiders claim the wedding venue, tentatively planned for late next year, will be the mansion the actor is renovating in the Hollywood Hills--just down the street from the estate Brad Pitt and Jennifer Aniston called home when they were married.
'Engaged' Reeves Spotted with Ex
The Matrix heartthrob was briefly engaged to British TV presenter-turned-photographer De Cadenet in 1996 before he went on to romance Carrie-Anne Moss and Jennifer Syme, who died in a car accident in 2001.
But they have remained close over the years and the 41-year-old talked at length with his old flame backstage at the O2 Wireless Festival in London's Hyde Park yesterday.
He recently said, "I want to get married. I want to have kids."
De Cadenet split from The Strokes guitarist Nick Valensi last summer and was previously married to Duran Duran star John Taylor.
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