John Mayer and Katy Perry Have Split

02/26/2014 at 03:30 PM EST

Katy Perry and John Mayer Split: Report
John Mayer and Katy Perry
Kevin Mazur/Getty

John Mayer

John Mayer

Katy Perry

Katy Perry

Things are reportedly over for Katy Perry and John Mayer.

The music-powerhouse couple have split up, with Perry, 29, breaking off the relationship, according to E! News.

"She was talking about him like everything was normal about two weeks back," a source close to Perry tells PEOPLE, adding that the couple "seemed pretty happy just a couple of weeks ago."

Over the last few weeks, Perry stepped out wearing rings on her left ring finger, sparking a new round of engagement rumors. And, as recently as Valentine's Day, she and Mayer, 36, were spotted getting cozy during a night out on the town in Los Angeles.

Mayer, however, was noticeably absent when Perry visited London and Milan this week.

Perry, who is gearing up for a world tour, reportedly returned back home to Los Angeles on Friday. Reps for both singers did not comment.

The on-and-off couple first began dating in the summer of 2012, eventually weathering ups and down that saw them split up twice. In recent months, however, the two appeared happy, fueling rumors that an engagement might be imminent.

"[John]'s just a fantastic partner," Perry, who divorced Russell Brand in 2012, said in a January cover story for Marie Claire. "I've been a fan of his for such a long time. He's got a brilliant, brilliant mind. It's a rad, mature relationship."

The pair recorded a duet, "Who You Love," for Mayer's latest album, Paradise Valley, and they even shot a music video for it that showed them cuddling up and riding a mechanical bull.

"Relationships are kind of like riding a bull – you hold on for dear life," Perry said while promoting the video on Good Morning America. "Sometimes you get a little buck here and there, but you get back on."

With reporting by STEVE HELLING

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