The pair, who is currently on holiday with friends in Rio De Janeiro, Brazil, are believed to have met through mutual friends back in London.
A source told The Sun newspaper: "Florence and James are pretty loved up.
"They instantly hit it off. James was privately educated in Yorkshire and now earns his cash from helping organise events.
"They have a lot of mutual friends and like going out to the same places. They have been inseparable since they got together. There's no way they'd travel halfway around the world together if they weren't serious."
Florence split with long-term boyfriend, literary editor Stuart Hammond, last October.
Florence Welch: Photos Of Her Style Evolution
Meanwhile, Florence And The Machine have announced details of a 2012 UK and Ireland tour.
The band will play ten dates across the UK and Ireland. The tour kicks off in Dublin on March 2, with dates in Cardiff, Nottingham, Manchester and London.
The tour will conclude at Newcastle's Metro Radio Arena on March 16.
Support comes from The Horrors and Spector.
For more details and to buy Florence And The Machine tickets, check out Gigwise Gig Tickets.
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