Looks like Katy Perry and Orlando Bloom are giving their relationship another go!

The friendly exes have been spotted hanging out together recently, and a source tells ET that the two aren't just "hooking up" -- rather, the pair is spending some time away from the public eye to work on building a stronger relationship together.

“The time they spend together alone is a way for them to build a new healthy relationship that is not under the eyes of their fans and the world," the source says. "They both live very busy lives and have carefully made a plan to give their love a second chance."

According to our source, 33-year-old Perry didn't bring 41-year-old Bloom to her brother, David's, wedding earlier this month -- where she caught the bouquet -- in order to not bring attention to their relationship.

“She knew they would be photographed at a public event and therefore would be under a microscope again," the source says. "They want to avoid having to answer questions about their relationship."

Keeping their relationship out of the spotlight is actually “part of rekindling what they had, but in a much healthier way," the source notes.

“Katy was so depressed when they broke up, even though it was mutual," the source claims. "She was truly devastated ... She did a lot of soul searching and feels she is ready for a relationship.”

Perry and Bloom split last February after a year of dating. Since then, they've obviously remained friendly, spending Labor Day together last September, and attending an Ed Sheeran show just months after announcing their breakup.

“Orlando was begging [for] her back, soon after the breakup," the source claims. "Katy knew she was in no way ready, but they continued to talk regularly. They were best friends at the very least.”

Earlier this month, Perry talked about focusing on herself before getting into a serious relationship.

"I’m preparing to do a big soul overhaul very soon that I’m nervous about," she told Glamour magazine. "I want to emotionally elevate myself. I don’t want to hold on to childhood trauma anymore. I want to grow into becoming an adult. I’m preparing myself for having a family of my own in the near future. And that’s the thing: I want to do a little bit more soul surgery before I have a family of my own so that I don’t transfer any of those lingering feelings."

ET last spoke to Perry in October, when she definitely didn't seem to mind the single life -- specifically, how it's allowed her to juggle her big, new American Idol judging gig and her Witness world tour.

"I'm a bit younger in heart! I'm a bit more mature...single!" Perry said with a laugh when asked about her busy schedule. "You know, when you're single, you got a lot of time to yourself and a lot of energy, and I'm just finding a delicate balance."

Watch below:

-- Reporting by Adriane Schwartz

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