Elle Macpherson Engaged to Jeffrey Soffer

Elle Macpherson

Picture Perfect/Rex USA

updated 03/11/2013 AT 12:10 PM ET

originally published 03/11/2013 AT 12:20 PM ET

Here comes the supermodel bride!

Elle Macpherson and her billionaire boyfriend, Miami-based real estate developer Jeffrey Soffer, are engaged, a source confirms to PEOPLE.

Macpherson, 49, and Soffer reportedly dated for two years before breaking up a last March. But they’ve clearly worked things out. There is no word on when they will walk down the aisle.

Known as “The Body,” MacPherson modeled her incredible physique for PEOPLE in 2012.

She’s a mom to two boys, Flynn, 15, and Cy, 10, with ex Arpad Busson.

Access Hollywood was the first to report the engagement.

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