Mere days after the rumor mill began buzzing with predictions of an imminent engagement between Katy Perry and John Mayer, she showed up at Sunday's MTV Europe Music Awards in Amsterdam with a suspicious sparkler on her all-important finger.
A mere coincidence or a not-so-subtle sign that the crooner dropped down on one knee?
Katy kept quiet on the red carpet as she flashed the delicate and understated ring in a satiny aquamarine Zac Posen sheath and Dolce & Gabbana headband. But her finger was bare later in the evening as she performed "Unconditionally" and accepted the prize for Best Female Artist.
In recent days, sources have labeled a betrothal between the former Mrs. Russell Brand, 29, and the never-married crooner, 36, as "inevitable."
Still, sometimes a ring is just a ring.
Mayer, whose seeming inability to be discreet and self-admitted jerk tendencies left him with a string of disgruntled exes (see Jennifer Aniston, Jessica Simpson, Taylor Swift), surprised Perry with a heart-shaped ruby number over Valentine's Day, an offering that also touched off engagement speculation.
Insiders, however, insisted it was just a gift, not a symbol that he was committing to her whipped cream-spouting cleavage until death do they part.
This time around, the bauble is being dismissed as nothing more than a cute accessory.
"She's not engaged," a spy tells Us. "It was just a ring that went with the outfit.
This latest flurry of question-popping talk comes nearly two years after Katy's 14-month-marriage to Brand hit the skids, and about 18 months after she was first spied with Mayer, whom she's reportedly parted ways with twice.
Click on for more of Katy at the EMAs, along with pics of her romance with Mayer ...