"I would not ask it if I was not serious." Thorin assures him, he's more than pleased that Bilbo realizes what he's asking of him. That he does not seem at all displeased by the idea of it.

He assumes that Bilbo had heard of it from the others, if not asked about it on his own, curious hobbit he is. The idea of that only makes Thorin smile.

"Both, if you are fine with it." He would like a part of him to always be with Bilbo, but the halfling deserved his own design, after all he'd done. One hand rests along the small of Bilbo's back as he draws back some, the other coming up to cup one of the halfling's cheeks.

He loves you. He loves you so very much, Bilbo. It would tear him apart to lose you.

"So you are all right with this?"