Kim Kardashian and Kanye West are rumored to planning a vow renewal ceremony to mark their upcoming second anniversary, and the couple may even be looking to sell the rights to the event.

Radar Online reports the new parents are already in the midst of plotting an over-the-top ceremony with the blessings of momager Kris Jenner.

"They want this to be a tradition, with an extravagant celebration instead of anything low-key," a source said. "They both want next year's ceremony to take place in Paris, where Kanye still wants to set up home eventually."

Not only is Jenner rumored to be all in on the idea, word is she was the one who thought to cash in on the extravaganza to make tens of millions from the event via sponsorship and media deals, and by selling the distribution rights.

Kardashian and West welcomed their first son last month. Reports are they are also in the midst of planning a trip to Jerusalem to hold a baptism ceremony for him in Israel. The family previously traveled there so big sister North could be baptized at the Armenian St. James Cathedral.

"She wants to take Saint to Jerusalem to get baptized like they did with North," a source said.

In anticipation of the trip, Kardashian is also rumored to be undertaking a major weight loss program to ensure that she will be in top shape for the big event. The new mother-of-two has already lost 17 pounds since giving birth to Saint West earlier this month.

Kardashian added this won't be the first time young Saint has made the trip to Jerusalem. She now reflects that she was pregnant with the boy at the time of North's baptism

"Baptizing North in Jerusalem in an Armenian church with our new baby in my belly was so special," she shared along with a photo of North's ceremony.