"Hannah Montana" star Miley Cyrus is engaged to be married to her boyfriend of three years Liam Hemsworth. And here is your first look at her 3.5 carat Neil Lane engagement ring.

News about the engagement broke out when People reports that indeed the 19-year-old singer actress is engaged to her Australian boyfriend. There hasn't been any formal statement from both Miley and Liam but there weren't any denials either.

If we base it from Miley's Twitter posts recently, she seems to be in a good mood. On one of her last posts she said, "Life is beautiful." Probably Cyrus can't contain the happiness from her recent engagement.

After she reportedly told People magazine that she is "happy to be engaged," the teen singer took it on Twitter to thank her fans who expressed their happiness for her.

"Thank you for all the love today :) I'm happy to share this news with you all. I feel like all my dreams are coming true. have a great day," she posted today just a few hours ago.

"Hunger Games" star Liam Hemsworth proposed to his girlfriend just last week on May 31 with a 3.5 carat diamond ring from Neil Lane. The jeweler said that Hemsworth was specific with what he wanted. Liam wanted something "beautiful and romantic" for his soon-to-be bride. The ring which had a vintage look to it was an 18k gold, garnished with diamond floral patterns with a big diamond as its center piece.

"It was hand-cut around 1880 or 1890 and it's unique and in its original form," Lane said.

"At that time no two diamonds were alike, as they were all hand-cut, so it's fascinating to look at because it hasn't been re-cut to look contemporary over the years. I find that really romantic."

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Miley Cyrus and Australian Actor Liam Hemsworth Engaged! [PHOTOS]