The stars are both due in Australia in April on work duty, and have reportedly given themselves some time off so they can enjoy being there together.
In work mode, Russell will be promoting his new movie Arthur and Katy is touring the country with her California Dreams show.
A source tells the Sydney Daily Telegraph newspaper: “They are [both] expected in the country at the same time… it will be a great catch up for them.”
The couple married in October and honeymooned in the Maldives.
Katy was spotted in tears at LAX airport last month saying goodbye to Russell before she headed to Europe to begin her world tour.