Miranda Kerr Debuts $450,000 Engagement Ring!

USMagazine, Thursday, June 24, 2010, 10:58am (PDT)

Orlando Bloom's bride-to-be has her bling!

Supermodel Miranda Kerr stepped out in Hollywood on Wednesday, two days after actor Bloom (via his rep) confirmed their engagement to USMagazine.com.

Kerr's accessories for the outing? Her adorable Yorkshire terrier -- and a huge, brand-new engagement ring!

The dazzling sparkler is five carats with a price tag of $450,000, estimates celeb appraiser David Mamame of Myjewelrybox.com.

Bloom, 33, and Kerr, 27, have been dating since 2007 after meeting through a mutual friend.

"Miranda and I spend so much time apart; she's working hard, I'm working hard, so we have to grab time together whenever we can," Bloom gushed to reporters last fall. "A weekend here, a weekend there ... We are just enjoying our time together now."

Dodging premature engagement talk earlier this year, Kerr told Britain's Hello! magazine, "Orlando is an incredible man and he's a very genuine and authentic individual. I'm grateful that he's in my life."

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