Photo courtesy WireImage.com

Pete Wentz, lyricist/bassist for Fall Out Boy, has confirmed to People magazine that the engagement ring used to seal the deal with Ashlee Simpson is “not a conflict diamond.”

According to a “Breaking News” post on friendsorenemies.com, Ashlee Simpson and Pete Wentz are engaged.

THIS JUST IN FROM ASHLEE SIMPSON “We know there has been a lot of speculation recently about Pete and I and we wanted our fans to be the first to know, because you guys are the best. Yes, we are thrilled to share that we are happily engaged. Thank you for all of your support and well wishes - it means the world to us. We consider this to be a very private matter, but we wanted you to hear it straight from us.”
- Ashlee and Pete