Blake Shelton is reportedly spending big bucks on Christmas gifts for Gwen Stefani's three sons, but the country music star may be forking over even more for a piece of jewelry for Gwen — as in a big diamond engagement ring that will make the holidays really sparkle.

Although many fans think that Blake and Gwen are already engaged because she was photographed wearing a diamond ring back in May at Wango Tango, sources tell Hollywood Life that was just Gwen's way of hinting to Blake that she wants him to propose to her because she is "more than ready" to get engaged.

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Blake goes jewelry shopping

Getting an engagement ring from Blake probably won't come as a huge surprise for Gwen, especially with reports that Blake has been out shopping for diamond jewelry making headlines over the past few weeks. However, he is apparently pulling out all the stops this Christmas for both Gwen and her boys.

According to Hollywood Life's sources, Blake won't confirm (or deny) whether he is going to propose to Glen on Christmas, but he has "definitely been shopping for diamond jewelry." And with Forbes estimating that Blake's annual income hover around $28.5 million, chances are he will be buying a spectacular piece of jewelry.

Of course, it hasn't been confirmed if it's actually a diamond engagement ring that Shelton is buying, but with Christmas just days away, we'll soon find out if Gwen and Blake are officially engaged or if he's going to hold off on popping the question.

Santa Shelton will be spoiling Gwen's boys

Whether the couple gets engaged during the holidays or not, it's clear that he is down for spoiling all of them, including Gwen's sons, Kingston (10), Zuma (8), and Apollo (2).

"He basically bought everything Toys R' Us sells for young boys including Minecraft, Pokemon and Tech Deck supplies," a source tells Hollywood Life.

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And that's not all. Blake reportedly bought Gwen's sons some big-boy toys like bows and arrows so they can all do a little target practice with him on his property.