Paul McCartney and Nancy Shevell are engaged
Updated 2:22 p.m. EDT
(CBS) Paul McCartney must be singing "All You Need is Love."
The former Beatle is engaged to his girlfriend of four years, New York socialite Nancy Shevell.
Pictures: Celebrity weddings and engagements
Pictures: Paul McCartney
McCartney, 68, began dating Shevell, 51, during the summer of 2007.
"They have the right chemistry," a source told People magazine of the couple. "They're both cool, chilled out and optimistic."
This will be McCartney's third marriage. He married Linda McCartney in 1969 (she died in 1998, after battling breast cancer) and Heather Mills in 2002. They separated in 2006 and their divorce was finalized in 2008.
He has four children from his first marriage - Heather, 48, Mary, 41, Stella, 39, and James, 33 - and one daughter, Beatrice, 7, from his marriage to Mills.
