Matt Damon planning $1 million wedding renewal party

MATT DAMON is planning a lavish ceremony to renew his vows with his wife of seven years this spring (13), according to reports.

The actor wed Luciana Barroso in December, 2005, at City Hall in New York City, and now sources tell Life & Style magazine he is planning to cement his commitment to his wife by whisking her off to St. Lucia.

An insider tells the publication, "He is renting out all 78 rooms of the Sugar Beach resort for a week in April. He's flying in guests from around the globe."

Close pals George Clooney and Ben Affleck and their partners are expected to be among the guests at the vow renewal, which is reportedly set to cost the happy couple a cool $1 million .