Well, well, well... what is going here?
Katy Perry has been spotted out and about wearing an engagement ring on THAT finger.
The rumours were only going around last week that she and Orlando Bloom had called it quits, but according to this new report (and PHOTOS) maybe not?
They were seen leaving The Polo Club earlier this week and Katy was wearing a massive, beautiful diamond ring!
You can see more pics of the massive ring here.
Orlando and Katy have yet to comment on the news.