David Arquette is celebrating his engagement in Aspen, Colorado with his fiancée this weekend.

The 42-year-old actor, who proposed to Christina McLarty, with whom he has two-month-old son Charlie, on Wednesday (02.07.14), organised a special getaway to mark the occasion.

A source told PEOPLE.com: ''They are going to vacation in Aspen to celebrate.''

The actor, who was previously married to Courteney Cox for almost 11 years until 2010, is also set to host Aspen Peak Magazine's 10th Anniversary Celebration tonight (05.07.14) with his business partner, John Terizan, at their nightclub Bootsy Bellows, an outpost of their famed West Hollywood hotspot.

The 'Jake and the Never Land Pirates' star popped the question with a blue-stoned ring outside Mastro's steakhouse in Malibu, California, in front of Charlie and his 10-year-old daughter Coco, whose mother is Courteney, but the proposal had been in the pipeline for some time.

A source previously said: ''He flew to Las Vegas to ask Christina's dad Bud McLarty for permission [to marry Christina] a while ago, so it's been in the works.''

The happy news came just days after David's ex-wife announced her own engagement to Snow Patrol rocker Johnny McDaid, 37.