A Billy Ray Cyrus source tells PEOPLE the "Achy Breaky Heart" singer and Elizabeth Hurley have known each other for years.

"Liz's friends think it must be a joke or madness, but they aren’t saying it to her," said a source in the know of Elizabeth Hurley's new romance with Billy Ray Cyrus.

Country music legend Billy Ray Cyrus and model Liz Hurley confirmed their romance earlier this week, which comes after Billy Ray's divorce was finalised last year