updated 08/02/2011 AT 11:00 AM ET
•originally published 08/02/2011 AT 2:15 PM ET
Is it wheel love?
DiCaprio is in town preparing for his next film, The Great Gatsby, according to a source, who adds, “He starts shooting this month in Australia.”
The couple, who ventured out during a steamy summer in the Big Apple, dressed appropriately for their ride, with Lively, 23, in a hat and a beige dress tied in the front, and DiCaprio, 36, in a white T-shirt, though neither wore a helmet.
Lively and DiCaprio were first linked in November and have been spotted together over the past few months, including shopping for shades in Santa Barbara, Calif., last month, on a boat ride in Venice in June and during a sight-seeing romp through Portofino, Italy, in May.