The couple have been dating since March, when they met at Sir Elton John's post-Oscars party in Los Angeles.
Asked whether the pair plan on starting a family, Penna told The Sun: "Yes, we have a project of a family.
"I already have a family there. They [Price's children] are not my sons but I treat them like they are. She's the woman I love and want to protect and care for.
"If tomorrow we marry, it's because we feel right. I do what my feelings tell me and I want to be with Katie."
Price recently admitted that she is in no rush to divorce Alex Reid because she doesn't plan on getting married anytime soon.
"I'm still married actually, and I'm in no rush to get divorced because I'm in no rush to get married," she said. "Divorces take for ages, they cost me a lot of money to get divorced for the obvious reasons."