Witherspoon beau designing engagement ring?

Reese Witherspoon's boyfriend Jim Toth has reportedly begun designing the ring that he will use to propose to the actress.

According to US Weekly, Toth is "ready" to pop the question and plans to do so soon, a decision that comes shortly after the couple dodged rumours that they are already engaged.

"Jim is ready. He's even designing the ring. He wants it to come from him and for it to be completely unique," a source said.

"He plans to make it private. [He] will probably take her away or go to her farm in Ojai, California."

Witherspoon is said to be "cautious" about remarrying following a painful split in 2006 from ex-husband Ryan Philippe but feels ready to take the next step with Toth.

"She is definitely happy, in love and definitely wants to settle down," the insider explained.

Witherspoon and Toth began dating earlier this year.