Chaz Bono is saving his hard earned dollars to purchase the one thing he doesn’t have – a penis.

The Dancing with the Stars contestant, who was born a female, is paying for his final gender reassignment surgery, where he will have a penis constructed, he told the new issue of Rolling Stone magazine.

“I could get a phalloplasty, which builds the phallus from a donor site on your body," Bono said, and described the medical options he considered.

Chaz Bono and his fiancée Jennifer Elia have ended their engagement after just seven months, RadarOnline.com has learned.

The Dancing with the Stars alum took to Twitter to confirm the news of their shocking split, "Thanks for your concern about our separation," Bono wrote. "I'm doing fine, and we remain on good terms with nothing but respect and affection 4 each other."

As RadarOnline.com previously reported, Bono, 42, proposed to Elia last May in Seattle, with Chaz handing Jennifer the ring in a box, saying he wanted to get her something beautiful for her birthday.

Being Chaz, the follow-up the Emmy-nominated documentary Becoming Chaz includes a scene where Chaz Bono proposes to Jennifer Elia, RadarOnline.com has learned.

The engagement took place last May in Seattle, with Chaz handing Jennifer the ring in a box, saying he wanted to get her something beautiful for her birthday.

He never actually says the iconic line, "Will you marry me?" according to the clip on People.com but Jennifer seemed to get the point.

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"It's gorgeous.  Thank you so much," she said.

Cher's son then helped Jennifer put on the ring and the happy couple kissed.

The Dancing with the Stars contestant has yet to announce a date for his wedding.

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Before she began dating Cher’s famous offspring, Jennifer Elia had an incident with an ex-lover that led to her arrest, Star magazine has exclusively learned in a bombshell new report.

On May 2, 2004, a year before Elia, 36, began dating Dancing with the Stars contestant Chaz Bono, she was arrested and booked by officers with the Los Angeles Police Department’s West Los Angeles division on a charge of “battery of an ex-spouse/fiancee/person with a dating relationship.”

The arrest statute is 243(E)(1)PC, a misdemeanor according to the California Penal Code. A state law expert told Star it is often referred to as “simple domestic battery,” and adds that the perpetrator can be arrested “even if you used only the slightest force…any unwanted physical touching will suffice. This means that you don’t actually have to injure your intimate partner to be convicted.”

Chaz Bono is waltzing out of his famous parents’ shadow for the first time in his upcoming stint on Dancing with the Stars.

Although fans of Sonny and Cher fondly remember the cute little girl that came on stage with her parents during their iconic 1960s TV show, few people knew the private pain that Chasity carried with her as she grew up.

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The casting of Chaz,42,on the hit ABC dance show has caused controversy even before the premiere airs.

Chaz Bono is determined to get himself back into shape. RadarOnline.com spotted the LGBT rights advocate coming out of his favorite gym after a serious work-out, and then stopping for a bottle of water.

The hard work seems to be paying off. The transgender son of Cher and the late Sonny Bono, Chaz appears to have already taken off some pounds, and if rumors that he'll be appearing on Dancing with the Stars are true, a lot more will follow.

PHOTOS: Chaz Sports Beard In West Hollywood

Chaz also has next month's Emmy Awards to look forward to. The documentary about his transition, Becoming Chaz, has been nominated for three awards.

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Transgendered activist Chaz Bono -- his beard growing in nicely -- was snapped Monday afternoon out & about in West Hollywood, California, and RadarOnline.com has the new pics.

Bono, 42 -- wearing a white tank top and gym shorts -- was seen eating in his car (perhaps refueling after a workout), before heading inside the home he shares with longtime girlfriend Jennifer Elia.

It’s an exciting time for the only child of Cher and the late Sonny Bono.

Chaz Bono stepped out with his first beard on Friday, and RadarOnline.com has the photos.

Bono is the transgender son of Cher -- he began life as Chastity Bono -- who has completely made the transformation from female to male.

Now an advocate for gay, lesbian and transgender rights, Chaz documented his change in a film titled Becoming Chaz.  It has been nominated for three
Primetime Emmy Awards.