Miley Cyrus and Liam Hemsworth Are Postponing Their Wedding: Source

Ah, young love …

Miley Cyrus and Liam Hemsworth aren’t in any rush to walk down the aisle. In fact, the couple have decided to postpone their wedding, a source tells PEOPLE.

“They want to figure out their life together before they get married,” says the source, who adds they originally wanted to tie the knot this summer.

But the pair, who got engaged last June and never announced an official date, aren’t done for good.

“They’re still engaged and living together,” adds the source. “They just realized that there is no rush with the wedding and that it’s better that they wait a bit.”

Adds a second source: “They were never in a rush to get married.”

Cyrus, 20, and Hemsworth, 23, recently spent time apart when he took a trip to Australia and Manila last month for vacation and work commitments. Cyrus was photographed with (and without) her engagement ring, but once her beau returned, “She [was] in the best mood,” the source told PEOPLE.

PHOTOS: Miley Cyrus & Liam Hemsworth: PDA Around the World

And although Cyrus and Hemsworth may be holding off saying “I do,” Cyrus is still close with the Hemsworth clan.

“She plays with our kids. She loves our kids,” Samantha Hemsworth, wife of Liam’s brother Luke, recently told PEOPLE. Added Luke: “She is [’Aunt Miley’] already.”