It's not the first time Steven has gone for a younger woman - he was previously engaged to Erin Brady, who was 25 years his junior, in 2011, five years after they started dating, but they broke off their engagement in 2013.
The star has been married twice, most recently to clothing designer Teresa Barrick - who he has kids Chelsea and Taj with - from 1988 to 2006.
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Steven married his first wife Cyrinda Foxe - the mother of his daughter Mia - in 1978 but they divorced in 1987 and the actress sadly died from brain cancer in 2002.
His daughter Liv is from a brief relationship with Bebe Buell, 62, a former Playboy Playmate of the Month.
- Bang! Showbiz