Sean & Catherine Lowe - Wedding - Discussion

Sean Lowe and Catherine Giudici Set a Wedding Date

Break out the Champagne!

Nearly one year after Sean Lowe got down on one knee to propose to Catherine Giudici, the couple have finally picked a day for their much-anticipated union, PEOPLE confirms.

The Bachelor alums will say their vows on Jan. 26, 2014 – and the ceremony will air live on ABC.

"It's really exciting," Lowe, 29, tells PEOPLE. "Time has just flown by – I think January is going to sneak up on us pretty quickly!"

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He adds, "I think it's only natural to have it on TV seeing as how our relationship started. This will be a cool opportunity to share the most special day of our lives with all the people who have been invested in us along the way."

Plans for the big day are already in high gear; decisions on vows (personalized), honeymoon (someplace tropical) and bridesmaids (there are 12!) have been made, but the couple say they still have a lot to do.

"I haven't found my dress yet," Giudici, 27, tells PEOPLE. "I know I want it to be form-fitting ... Not too princessy."

As far as the reception goes, the couple "want it to be a big party," says Lowe. "It's about family and friends celebrating our marriage. And that's really my only input. I'm letting Catherine make most of the decisions."

One thing their nuptials won't include? A certain scarlet-colored bloom. "No red roses," Giudici says humorously. "We've turned a corner!"

For now, the soon-to-be husband and wife are living (separately) in Dallas, where they're still cherishing getting to know each other away from the cameras.

"We're stronger than we've ever been," says Lowe. "And not to sound too clichéd, but I fall more in love with her every day. Watching Catherine walk down the aisle will be the best moment of my life."