ROSIE O’DONNELL’s engagement to pretty redhead Michelle Rounds is already on the rocks, warn insid­ers.

The talk-show queen recently confirmed the two were secretly engaged a couple of months ago, but now Michelle’s friends and even some family members are telling her to back out before it’s too late, say sources.

“Michelle has suddenly come down with a bad case of ‘cold feet,’” revealed a close source.

“When she said she’d marry Rosie, it was at the height of their whirlwind courtship.

“Now Michelle’s being advised to slow down and consider what an actual marriage will be like with Rosie, who has tons of emotional baggage.”

The comedian has confessed to struggling with depression her entire life and taking antidepressants. She also admits she suffers from seasonal affective disorder, often called “SAD,” which causes her to feel blue during the fall and winter months.

In addition to those conditions, an insider revealed that Michelle’s loved ones are warning the 40-year-old corporate headhunter she is about to step into a complicated family situation.

Rosie, 49, already has one failed lesbian marriage behind her. In 2004, she tied the knot with former Nickelodeon exec Kelli Carpenter – and in 2009 Rosie dropped the bombshell that the two had split two years earlier!

Meantime, Rosie and Kelli had three adopted children – Parker (born in 1995), Chelsea (1997) and Blake (1999). And in 2002, Kelli gave birth to their fourth child, Vivienne, who was conceived through artificial insemination.

Following her bustupwith Kelli, O’Donnell had a relationship with artist Tracy Kachtick-Anders, which crumbled in February, but Rosie’s rep has said their families still socialize and see each other frequently.

 “Michelle has been warned that life with Rosie means working out complicated relationships with both Kelli and Tracy – in addition to getting to know all the children,” revealed the close source.

“It’s going to be a huge change for Michelle, who has lived a very private single life and has primarily focused on her job. She’s entering a completely different world.”