"They are back together and it's brand new," said the insider. "They're really happy about it." Ryan and Mellencamp were last seen together on Oct. 15 as they walked through Manhattan's SoHo neighborhood.
News of the couple's alleged reconciliation comes a month after Mellencamp praised the You've Got Mail actress on NBC's Today show, telling the host Ryan is "an angel sent to me, and I'm very happy".
"And, you know, nothing's over 'til it's over," he added.