Javier Bardem and Penelope Cruz have kept their relationship pretty much hush-hush since they started dating while filming Woody Allen's Vicky Cristina Barcelona last year, but now sources say they may be planning to tie the knot this holiday season. Penelope wore a large diamond and sapphire ring to the premiere of her latest collaboration with Pedro Almodovar, Broken Embraces, last Sunday, and In Touch reports that she's been meeting with designers at the House of Balenciaga about a wedding dress.

"Penelope's parents are conservative Catholics and are really pushing for her to get married," a source told In Touch. "Javier would like to take things slowly, but Penelope wants to make her parents happy."

Balenciaga doesn't have a line of wedding dresses, but the high-end design house's creative director, Nicolas Ghesquière, did create a one-of-a-kind gown for Penelope's BFF Salma Hayek for her wedding to François-Henri Pinault earlier this year. The source adds, "Since she and Javier are from Spain, she'd love to have a Spanish designer create her dream gown." (Ghesquière is French, but the Spaniard Cristobal Balenciaga founded Balenciaga. The company is now owned by the French conglomerate PPR, which was founded by…Salma Hayek's father-in-law. See? Celebrities really do all know each other.) Target Sells Designer Wedding Gowns For Less Than $200

Penelope was on David Letterman's show last week promoting Broken Embraces and the upcoming Nine, and wouldn't comment on her rumored engagement. "I've been here a few times with you, you know I'm tough. One thing I don't do, I don't lie about my personal life," she told Letterman. (Dave, for his part, heartily agreed with the sentiment.)

Don't lie, honey. Just sell the pictures for lots and lots of money so we can ogle. And maybe have a pretty baby or three.

Via In Touch. Photo via Bauer-Griffin.