Jennifer Lopez and Alex Rodriguez plan to spend $3 million on their nuptials

Jennifer Lopez and her fiancé Alex Rodriguez are preparing for their wedding that will take place later this year.

This is expected to be a huge event, and paparazzi have already labeled it as a “wedding of the year”. According to insiders, the couple plans to spend around $3 million on a lavish ceremony, Life & Style reported.

A guest list reportedly includes Jennifer’s ex and father of her twins Marc Anthony and former boyfriend Casper Smart.

Rumors about couple’s engagement appeared last March. Alex presented a massive diamond ring which was estimated to cost $1 million.