Miley Cyrus, Liam Hemsworth not engaged...yet

Maybe some day they'll walk down the aisle, but it's not happening yet.

Speculation began swirling on Friday (March 23) that Miley Cyrus and "The Hunger Games" hunk Liam Hemsworth were on the road to getting hitched after Cyrus flashed what looked to be an engagement ring on Twitter. And Cyrus did nothing to quell the rumors when, while still sporting the ring, she and Hemsworth walked a red carpet on Saturday (March 24). But it's not that serious.

People magazine, citing a source close to the couple, reports that they are NOT engaged.

The two first met on the set of the film "The Last Song." They've dated on and off ever since, although it seems that they're very much on. They already share a dog together.

Maybe some day they'll make that co-parenting relationship legit.