The former 'N Sync singer has been happily dating Lorenzo Martone – designer Marc Jacobs's former fiancé – for two months, a source close to the pair tells PEOPLE.
"They're dating each other regularly, really like each other and enjoy each other's company," the friend tells PEOPLE. "They're going to take it one day at a time and see how it goes."
Although the pair met briefly a few years ago, they reconnected at an amfAR event in early June, following Martone's split from Jacobs.
"Lance wasn't interested in dating right away because he was getting over his own breakup with [Queer Eye for the Straight Guy's] Kyan Douglas," says the friend. "But Lorenzo was persistent, so they started talking and slowly spending more time together and really hit it off."
Since then, Bass, 31, and the Brazil-born Martone, who runs a New York public relations agency he also founded, have been spotted out together in Manhattan and Miami.
So what makes it work? "Lorenzo always thought Lance was really attractive, and Lorenzo is gorgeous, totally Lance's type – tall, dark and handsome," says the source. "They like the same things – movies, dinner with friends. They're very low-key. And it's nice that everyone in their social circles get along."
"When they both found themselves single at the same time, and Lorenzo found out Lance was now living in New York, he jumped at the opportunity to get to know him better."
The New York Daily News was the first to report on Bass's new relationship.