Miley Cyrus was spotted out in Hollywood yesterday flaunting a diamond ring on her fourth finger, according to Hollywood Life. Could current boyfriend Liam Hemsworth have asked Miley Ray to be his new wife?

UPDATE: An insider told E! Online: 'Miley is not engaged, but she's totally in love and thinks Liam is the one. Miley sees herself marrying young, but not at 17.'' [No offense, Nick Jonas and Justin Gaston!] Picture Credit: DisneyStarFacts.