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Jennifer Lopez & Alex Rodriguez Are Engaged, & Their Announcement Is So Sweet

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It's official: One of Hollywood's most adorable couples is getting hitched. Jennifer Lopez and Alex Rodriguez are engaged. The pair confirmed the news on Instagram, sharing photos of the "El Anillo" singer's massive ring.

Lopez, 49, posted a photo of her hand in Rodriguez's late Saturday night. In the Instagram picture, which she captioned with eight black heart emojis, she appeared to be wearing an enormous diamond ring which diamond expert Andrew Brown estimated for E! Online at "around 10 carats." Jewelry and style expert Lauren McCawley suggested to the outlet that the ring is even bigger than that, and valued at $1 million.

"J. Lo's new emerald cut stunner is what engagement ring dreams are made of," she told E! Online. "An approximate 15-carat diamond sparkles in a platinum solitaire setting and could easily retail for $1 million."

Lopez's beau shared the same photo. In the caption, he wrote, "she said yes" with a heart, confirming that they're engaged. Benny Medina, Lopez's long-time manager, told People that they are, in fact, engaged.

"They are on vacation and got engaged today," Ron Berkowitz, Rodriguez's rep, also told the magazine.

Romper reached out to reps for the couple for comment, but did not immediately hear back.

An anonymous source told People that Lopez and Rodriguez, 43, were traveling in the Bahamas when he proposed. Family and friends are said to be "super happy" for the couple. It appears the pair were alone on their vacation. They shared several photos together leading up to the engagement announcement, including one of them posing together on the beach. In it, Lopez can be seen sticking out her bum, while Rodriguez — who's holding the camera — looks directly into the lens.

"#beachbums," the singer captioned the adorable snapshot.

News of their engagement comes more than a month after Lopez and Rodriguez celebrated their two year anniversary in February, as Elle reported. Lopez penned a heartfelt message to Rodriguez on both Twitter and Instagram in celebration of their relationship, sharing a photo of them together, two photos of the athlete alone, and a picture of them with their respective children, twins Emme Maribel and Maximilian David, and Rodriguez's daughters Ella and Natasha Alexander.

"Two years of laughter / Two years of fun / Two years of adventures / Of excitement of growing and learning / Of true friendship / And so much love!!" Lopez wrote on social media, alongside the pictures. "You make my world a more beautiful safe and stable place... in the midst of our ever-changing, ever moving life ... Te amo Macho."

In his own anniversary Instagram tribute, Rodriguez recounted their "730 days" as a couple fondly. He noted that it felt as though they "have been together forever," adding that he's certain they "are meant to be."

"Only 730 days, which have flown by, but it feels like we have been together forever. We are meant to be, and how much you mean to me cannot be put into words," he captioned a collection of images. "From baseball games to traveling across the world to shows in Vegas. We have done it all together and every moment with you is cherished. Where this road will take us next is unknown but there is no one else I would rather have by my side. The journey is just beginning and I am excited for what's ahead."

Lopez's engagement, and subsequent marriage, to Rodriguez will be her fourth, The Wrap noted. According to the outlet, she was previously married to Cris Judd, Ojani Noa, and Marc Anthony. Rodriguez has been married once before to ex Cynthia Scurtis, The Wrap added.

Congratulations to the happy couple!