Denise Richards and Richie Sambora to Wed?

Denise Richards and Richie Sambora are planning to be married in Italy, in May according to media reports. Richards was spotted wearing a $100,000 ring last night at the Fashion Rocks concert in New York City, which Sambora reportedly gave to her last Saturday. A source tells Life & Style magazine, "They were on their way to the Staples Center (in Los Angeles) to see the fights. He got down on one knee in the back of the limo." After the event, the couple celebrated their upcoming nuptials with close friends at the Palm Restaurant in West Hollywood. The pair have reportedly shared the news with their families, but are reluctant to officially label themselves as engaged. Richards is in the process of divorcing Charlie Sheen, while Sambora is in the process of divorcing Heather Locklear. The source adds, "Richie is a very traditional guy. He wants to wait until they are both officially divorced. Then they can make the engagement real. They are buddies, these two. They've spent the past few weeks really bonding and talking about their future together. They're going to make a great husband and wife."