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Karina Smirnoff and baseballer beau Brad Penny have called a time out on wedding planning.

Nearly a year after announcing their engagement, "the wedding has been postponed," a source close to the Dancing with the Stars pro, 33, tells Us Weekly. "They are still together, but have conflicting schedules," explains the source.

Smirnoff and the Detroit Tigers player, 33, went public with their romance in 2009, after she and fellow DWTS pro Maksim Chmerkovskiy called it quits.

The dancer debuted her engagement ring -- a $95,000 sparkler featuring a 4.5 carat princess cut diamond -- at a November 2010 bash in Vegas.

"I believe a wedding is a celebration of a future together," Smirnoff mused to Us shortly after announcing her news. "It doesn't matter how it's going to be. Whatever we decide it'll be great."

For now however, the couple "want to spend more time with one another," the source explains. "Especially while planning their wedding."