John and Katy are Living the (Teenage) Dream

Things are getting REAL really fast for new couple John Mayer and Katy Perry!

John Mayer and Katy Perry have apparently been dating each other on the down low since July, but things took a turn for the serious after the two snuggled up at a Broadway show last month.

A source tells Hollywood Life that John is completely enamored of Katy and is ready to put his womanizing aside to commit to her. The source also said that John is so in love that he's ready to ask Katy to move in with him.

Let's hope all goes well for these two lovebirds, but hey--if they end up calling it quits, we may get some great new music out of the impending breakup drama. Everybody wins!