According to a report in Britain’s Now magazine, the former costars have been enjoying a series of dates in LA, 17 years after they first met shooting 1994 hit Speed and five years since they reunited for 2006′s The Lake House.
“They’ve had people trying to set them up for years, but the time was never right,” a source said.
“When Sandra started dating Ryan Reynolds earlier this year, Keanu was pretty jealous. Now that they’re both single, they’ve decided to go for it.”
Sandra– who has an adopted son Louis — filed for divorce from her husband Jesse James in April 2010 after she discovered he had cheated on her with several women.
Ryan — whose ex-wife is Scarlett Johansson — is now dating actress Blake Lively, who previously had a five-month relationship with Leonardo DiCaprio.