Gwyneth's Royal Date

Spain's King Juan Carlos and his wife, Sophia, have confirmed that their son, Prince Felipe, is dating actress Gwyneth Paltrow, according to the Spanish paper El Mundo.

Paltrow, who speaks fluent Spanish, is said to have had several meetings with the prince in Madrid last week. The about-to-turn-30 actress -- recently linked to Coldplay lead singer Chris Martin -- cut short her visit to the Venice Film Festival to head for a dinner rendezvous with the 34-year-old prince, reports the New York Daily News. After flying off to London, she's said to have returned to Madrid to dine with the prince again.

The two supposedly were introduced by mutual friends. Now that the friendship seems to be warming, Gwyneth's pals are practicing their curtsies.

"Her friends are teasing her about being the next Grace Kelly," who wed Prince Rainier of Monaco in 1956, says one source. "They're already calling her 'Princess G.'"

Reps for Gwyneth's parents, Bruce Paltrow and Blythe Danner, said they have no comment.