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Prince Harry, Meghan Markle planning a $20 million wedding?

| May 11, 2017 12:46 PM EDT

Prince Harry at the the Community Recording Studio at Russell Youth Centre on in Nottingham, United Kingdom and Meghan Markle at the P.S. Arts' The pARTy at NeueHouse Hollywood in Los Angeles, California.

Prince Harry and "Suits" actress Meghan Markle's romance has been a real-life fairy tale so far. Despite coming from different countries and backgrounds, Harry and Meghan's relationship has grown strong and there rumors that they might get engaged soon. However, recent reports reveal that a royal wedding is not yet being planned for the couple.

There are rumors that Prince Harry asked Queen Elizabeth's blessing to marry Meghan, and his grandmother reportedly gave his approval. A source claims that Prince Harry's older brother, Prince William, is going to be the best man and Prince George is going to be the ring-bearer. It has also been reported that the wedding will cost around $20 million.

Another incident also points to a potential Prince Harry and Meghan Markle wedding. According to Mirror, a royal staff meeting was held at the Buckingham Palace earlier this week, and there are speculations that the meeting is about the royal couple's wedding.

However, it has been confirmed that the meeting was to announce that Prince Phillip is going to step down from his duties. According to BBC, the Duke of Edinburgh will still attend scheduled engagements until August, but will no longer accept new invitations.

Queen Elizabeth, on the other hand, "will continue to carry out a full program of official engagements."

Meanwhile, Meghan Markle is set to join Prince Harry attending Pippa Middleton's wedding to businessman James Matthews. A source told People that the "Suits" actress will not be attending the church ceremony, but will be joining the evening celebration.

A source explains that protocol prohibits unmarried and unengaged partners to attend the wedding ceremony, but allows them to join the evening celebration which tends to be less formal.

Lately, Meghan has been frequenting events together with her royal beau. She was in Caribbean with Prince Harry to attend the wedding his close friend Tom "Skippy" Inskip.

Prince Harry and Meghan Markle's relationship was confirmed in November last year through a statement made by the Kensington Palace. The couple reportedly met through Harry's school friend's fashion designer wife.

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