She famously dumped him after quitting I'm A Celebrity...Get Me Out Of Here when she discovered he had been planning to propose to her in the jungle and sell the story.
But now he has won Celebrity Big Brother, it appears the former glamour model is planning to marry him after all.
True love? Alex Reid leaves the Celebrity Big Brother house, and Katie Price was there to greet him. Now she is planning to get engaged to him and sell their story
Katie, also known as Jordan, is hoping the move will boost her flagging popularity, which took a dive when she split from husband Peter Andre.
And she has reportedly mapped out a business plan which will earn the couple at least £2 million in the next six months with interviews and photoshoots.
The model will propose to cage fighter Alex, 34, as part of a magazine deal.
'It's been carefully calculated,' a source told the News Of The World. 'She's plotted with Alex's advisors over the last week. She wants to make as much money as possible and knows she needs to exploit her relationship with Alex to do that.'
They added: 'The next one [photoshoot] is a holiday next week. Then there's something involving the kids. All of it was sorted without Alex's knowledge because he was in the house.'
The insider also speculated that Katie would not go ahead with the wedding at all once money had been earned from interviews.
Wedding plans: Katie Price declared boyfriend Alex Reid was the 'love of my life'
When Alex entered the house, Katie, 31, warned him not to spill the beans on the reality show, or their relationship would be over.
According to reports, the model had considered ending their relationship after his stint on the show got off to a rocky start - with him parading in a mankini and being brought to task over selling his stories to the press by hardman Vinnie Jones.
But after his resounding win on Friday - he won 65 per cent of the vote - Katie declared: 'He's the love of my life'.
The couple have already signed a deal for an interview and photoshoot - which will be published next week - for OK! magazine. The pictures were taken at Pennyhill Park Hotel, Surrey yesterday.
Insiders have revealed there are a number of interviews and deals being lined up, and Katie will be keen to earn a similar fee to the £1.75million she netted when she wed Peter Andre in 2005.
Alex, who beat Katie's ex Dane Bowers to the CBB crown, is already planning to spend some of his £175,000 fee on another engagement ring.
Brutal: Katie dumped Alex live on air following her exit from I'm A Celebrity
He originally bought one for £20,000 for his proposal on I'm A Celebrity two months ago, but Katie quit the show and dumped him before he had a chance to pop the question. They reconciled a few days later.
He admitted during his time in the house how besotted he was with the model, but had confessed that he was not sure if she would be waiting for him.
'Missing Katie was the hardest thing,' he said. 'When you get all that thinking time, I was thinking is she going to be waiting for me when I come out?
'It's silly, it's a normal human reaction. I knew deep down she would be and the proof is in the pudding.'
He also confessed : 'The hardest thing for me being the house was how much I missed Kate. I really missed holding her close to me.'
Meanwhile, Katie boasted that having dated both Celebrity Big Brother winner Reid and runner-up Bowers proved she had good taste in men.
'The two guys I've been with have been the last two (in the show). They are genuine guys, I don't go for s***heads, basically,' she said.
'He's The One': Katie Price 'confides' in Davina that she is happy with Alex's performance on Celebrity Big Brother
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