While the two are still together, a source tells PEOPLE the couple has “decided to slow things down.”
“Pete and Kate got super serious very fast but they’ve decided to slow things down a bit,” says the source. “They’re still dating as of now.”
The couple was last spotted together grabbing dinner in Los Angeles last month with Beckinsale’s mom Judy Loe, and her stepfather Roy Battersby.
Beckinsale, 45, and Davidson, 25, have been linked since first hitting it off at a Golden Globes afterparty in January.
“She’s very happy with Pete,” the source said. “They have really similar senses of humor and she’s always laughing with him.”
And while all eyes have been on their romance from the start, the actress said she was “surprised” by the amount of attention her relationship with the Saturday Night Live comic has sparked.
“I’m surprised by the interest [in my dating life],” she told the Los Angeles Times without referring to Davidson by name. “I’ve never been in this position before — never dated anybody who comes with their own bag of mischief. It’s all quite shocking, and something to get used to.”
Davidson also addressed the relationship during an episode of Saturday Night Live after costar Colin Jost asked if he had any new life developments to share, “like a new girlfriend.”
“Apparently people have a crazy fascination with our age difference,” Davidson replied. “But it doesn’t really bother us.”