Per the reports, the pair apparently "still has love" for each other, but things are over - at least for now - from a romantic perspective.
Sources told the website that the decision to split was mutual, and that they both felt it was "not the right time for their relationship to take off".
"It was way too much too soon", the source told PEOPLE. "It's not shocking to anyone".
Grande, 25, and Davidson, 24, began dating in May, after the pop star ended her relationship with rapper Mac Miller this year.
Rebecca Humphries Handled Her Seann Walsh Split With Dignity
He told The Jonathan Ross Show: "My take was keep them in the show, make them do the Dance of Shame, if you like". Jones is married to another dancer on the show, and Walsh was in a relationship at the time.
Ariana has been going through a rough patch lately, dealing with the death of former boyfriend Mac Miller, who died from an apparent drug overdose on September 7.
Rumors of their engagement swirled weeks later, and finally in June, Davidson confirmed that they were engaged. The news of their breakup comes shortly after Ariana's team announced that the singer would be taking time away from the public eye.
The "Breathin'" songstress recently took time off from Hollywood to mourn the death of ex-boyfriend Mac Miller. Lately, posts together have whittled down; Davidson's social media accounts have been deleted as of writing.