Jamie Lynn Spears is back with boyfriend James Watson, a "well-to-do Louisiana businessman," according to The Daily.
JL started the romantic relationship with Watson, 31, in 2010, but called it quits a year later because he wasn't ready to be a father-figure to her daughter Maddie.
"They're seeing each other again," says a source.
Jamie Lynn even took him out to Morton's Steakhouse in New Orleans to celebrate his birthday.
"It's looking serious, but she should be careful," continues the insider. "He loves his cars, his toys and his freedom. I really don't see him being ready to settle down with a single mom just yet."