Nicollette Sheridan & Michael Bolton: When Will They Marry?

Nicollette Sheridan & Michael Bolton: When Will They Marry?
Nicollette Sheridan and Michael Bolton
Jason Merritt/FilmMagic

04/10/2008 AT 09:50 AM EDT

Nicollette Sheridan and Michael Bolton's relationship started in 1993 – lasting about a year and a half – though the serious stuff began in 2005, with the announcement of their engagement more than two years ago.

All of which begs the question: When, already, will the lovebirds tie the knot?

"We're both having a great time. And we're insanely busy. I don't ever stop touring and traveling," Bolton, 55, told PEOPLE at Wednesday's Lincoln Center Spring Gala in New York, honoring Disney chief Robert Iger.

"And, especially because of the [Writers Guild] strike, they really went to work to make up for lost time on the set [of Desperate Housewives]. They have long, long days," Bolton added.

He also addressed the matter of a photo that surfaced showing them sporting rings – which paved the way for false reports that they might already be married.

"It's a rumor," the musician clarified as he displayed the ring in question. "I happen to like rose gold. It's Bulgari. Nicollette has a few similar rings. I came to see her on the set, and the first shots were close up of my finger."

Timeframe for a Wedding

Pressed if they might marry within the next five years, Bolton replied, "First we'll find the place."

Over the December holidays, the couple vacationed in St. Bart's – perfect for a honeymoon, yes?

Well, no. Given shots that were published of the couple on the sand, Bolton said, "It wasn't as private as I would have liked."

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