Now, one year later, the pair is not only back together, they’re engaged!

A source tells Access Hollywood that Elle and the billionaire Miami-based real estate developer are set to wed.

The Australian supermodel, 49, will move to Florida to be with her fiance.

This will be the second marriage for both Jeffrey and Elle, who was married to photographer Gilles Bensimon from 1986 – 1989.

The former “Fashion Star” host also has two sons from a previous relationship with Arpad Busson — Arpad Arpad Flynn Alexander Busson, 15, and Aurelius Cy Andrea Busson, 10.

An agent for Elle had no comment regarding the engagement news when contacted by Access Hollywood on Friday.