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A source tells PEOPLE that Cooper, 47, and Shayk, 36, were together with their daughter, 5-year-old Lea De Seine, over the holiday.
A separate source close to Shayk tells PEOPLE that the model is "very happy with" her ex as the two continue to be seen spending more time together.
"She never enjoyed being single," the source says. "She always hoped they could find a way to make their relationship work again."
"Even though they always got along and co-parented well, their daughter is the happiest when they are all together," the source tells PEOPLE, adding that while "Irina still has her own place in N.Y.C., she spends most of her time at Bradley's."
MARK RALSTON/AFP via Getty Bradley Cooper and Irina Shayk in February 2019
Shayk and Cooper first started dating in spring 2015 and welcomed a daughter in March 2017. Two years later, PEOPLE confirmed that the pair had split after four years together.
But a source close to the model told PEOPLE earlier this month that she and Cooper "have both been single and started hanging out more together."
"Irina is very happy to spend time with Bradley. She very much loves him," the insider added.
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Following their split, Shayk "missed" Cooper, the source also said: "She feels very proud how they have been able to get along and co-parent their beautiful daughter."
"Irina loves watching Bradley with their daughter. He is a wonderful dad," the insider continued. "She would like for them to be back together."
RELATED VIDEO: Irina Shayk Poses with Ex Bradley Cooper on Tropical Vacation Getaway in Rare Instagram Photo
In late October, they were photographed together at a party for fashion brand Self-Portrait, where they posed with several other fashion-industry faces including Stella Maxwell and British Vogue Editor-in-Chief Edward Enninful.
The model and mother of one captioned her post with a single red heart emoji.
Reps for Shayk and Cooper have not responded to PEOPLE's requests for comment regarding the nature of their relationship.