Liz & Billy Ray's WEDDING SHOCK!

IT'S ONLY BEEN THREE WEEKS SINCE THE LOVEBIRDS WENT PUBLIC

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Elizabeth Hurley and Billy Ray Cyrus are not wasting time. With new reports the singer, 63, is already shopping for an engagement ring, friends say "it's only a matter of time" before they take the next big leap in their surprise romance.

"He sees a future with Liz," a close friend recently told US Star magazine. "He's been drooling over her for years. Even though it's early, he could see himself buying her a ring."

Last week, Billy and Liz, 59, had fans buzzing after she posted a photo of herself wearing a flowing white dress - sparking rumours they'd tied the knot in secret.

"It's true they're lapping up all the attention and get a kick out of shocking everyone, but behind closed doors, this is as real as it gets," spills New Idea’s own insider. “It wouldn't surprise any of their friends if they went and eloped without telling anyone. It would be just like them to pop up at a wedding chapel in Nashville or Vegas.”

It’s been just over three weeks since Liz and Billy went public. They shared a loved-up Instagram photo on April 21 over the Easter weekend.