Simon Cowell and Lauren Silverman: Getting Engaged After Baby's Birth?

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Simon Cowell is reportedly ready to settle down, which is even more shocking than this summer's bombshell revelation that he's going to be a first-time father.

Cowell, 54, has supposedly purchased a ring and is ready to propose to Lauren Silverman, 36, who he got pregnant while she was still with her husband.

"Simon's mad about her," one source said of the mogul.

"But I think that he'll wait until after she gives birth."

Lauren Silverman is due in February and Cowell recently told Ryan Seacrest in an interview, "Let's put it this way, I wouldn't expect her to be a single mother."

Only time will tell when Cowell decides to propose, but he's over the moon.

"These things happen and everything is kind of calm now, and I'm happy," he told Ellen DeGeneres this fall. "I'm actually happier than I've ever been."

Cowell even admitted they already have a named picked out for their little one, although they have yet to reveal it publicly, along with the sex of the baby.

One name that has been public for quite some time now is Silverman's 7-year-old son, Adam, with her soon-to-be ex-husband, Andrew Silverman.

The boy's dad has made it clear that Cowell will not be playing the role of a father-figure in his son's life. That's putting it mildly. If he tries, he will pay.

In fact, the Silvermans' divorce settlement includes a clause specifically instructing Lauren to keep Simon Cowell away from Adam until January 2015.

She'll have to fork over a $50,000 penalty to Andrew otherwise. If she violates the regulation three times, she no longer has the rights to see Adam at all.

The stipulation holds until 2015, which could mean the 37-year-old real estate mogul does not expect to see things last between Cowell and Silverman.

Simon, apparently, seems bent on proving him wrong.

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Pregnant and smoking, don't think that is very good for the baby.

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Errrr. DNA test, Simon?