That's the shock new rumour sweeping through the couple's close-knit circle of friends, as wedding whispers continue to swirl for the intensely private pair.
It's been revealed recently that Terri has a secret dream of having an outback wedding in Central Australia - prompting friends to speculate whether wedding bells will ring soon for the Australia Zoo boss and her Hollywood actor.
'Terri was recently talking about Uluru and said how she'd love to get married in the outback one day,' says a friend close to the mum-of-two.
'The she started talking about Russell in the very next breath, prompting all of us to put two and two together.'
'She doesn't like to talk about her love life, but we know she's very happy and that Russell has been a great friend to her in the years since Steve died. No-one would be surprised if their relationship went to the next level, and frankly we'd like to see her get married to Russ - she deserves all the happiness in the world.'
One wedding venue that could be top of Terri's list if she decides to plan her dream outback wedding is Australia's most luxurious wilderness resort, Uluru's Longitude 131. Best known as the five-star hotel where Prince William and Duchess Kate holidayed on their 2014 Aussie tour, Longitude 131 has recently undergone a multi-million dollar refurbishmenet and is an amazing wedding location.
'Nature and wildlife are so close to her heart, having a wedding at Uluru would be a dream come true.'
Relationship rumours first started swirling for Russell and Terri, both 53, early last year after the Gladiator star was spotted 'half-naked' on the balcony of Terri's Sunshine Coast home.
Since then, the couple have worked hard to keep their relationship private.
For the full story see this weeks issue of New Idea.