Yes, you read that right. According to People magazine, the former Hannah Montana star is engaged to her long time boyfriend Liam Hemsworth.

Reports broke out to various online magazines including USA Today, CNN and People which tells that indeed, Miley Cyrus is engaged to her Australian boyfriend Liam Hemsworth.

The "Hunger Games" actor reportedly popped the question to the 19-year-old singe/ actress and daughter of Billy Ray Cyrus last May 31. The couple has been together for three years after meeting on set of their movie "The Last Song."

According to People, Hemsworth asked the magic question with a 3.5 carat Neil Lane diamond engagement ring.

Just this morning, Miley posted a tweet on her Twitter account saying "life is beautiful" and probably now, people know why.

"I'm so happy to be engaged and look forward to a life of happiness with Liam," Miley reportedly told People.

Just a few months ago Liam openly talked about his girlfriend saying that although he wanted to be professional on set while filming their first film together back in 2009, he couldn't help but feel a certain kind of attraction towards the actress.

"She makes me really happy. When you start, you want to be professional, but when you're filming those scenes with someone and pretending to love them, you're not human if you don't feel something," Liam previously said.

"I think it's someone that is always there to listen and I think that's when people make mistakes because they always want to have the answers and I don't like people trying to fix me, I just like them being able to listen," Miley talked about how perfect she thinks of Liam because he listens to her.

Currently, Miley is on the studio working on her next album while Liam is filming "Empire State" in New Orleans. The actor will also film "Paranoia" with Harrison Ford before shooting the second "Hunger Games" installment. 

Also read:

'Game of Thrones' Season 3: Five Characters To Look Out For

Kim Kardashian Cute as a Button, Reality Star Posts Childhood Pictures on Instagram [PHOTOS]

Kate Middleton Stuns in Lace Alexander McQueen Dress at Queen's St Paul's Thanksgiving [PHOTOS]

Liam Hemsworth & Miley Cyrus at the Vanity Fair After Party

Singer Miley Cyrus (R) smiles at actor Liam Hemsworth as they arrive at the 2012 Vanity Fair Oscar party in West Hollywood, California February 26, 2012.

Miley Cyrus poses with boyfriend Liam Hemsworth at the 2012 Oscars.

Cast member Liam Hemsworth poses with actress Miley Cyrus at the premiere of "The Hunger Games" at Nokia theatre in Los Angeles, California March 12, 2012. The movie opens in the U.S. on March 23.

Australian actor Liam Hemsworth and singer Miley Cyrus arrive at the 2012 People's Choice Awards in Los Angeles January 11, 2012.

Actress and musician Miley Cyrus (R) and actor Liam Hemsworth arrive at the CNN Heroes: An All-Star Tribute event at the Shrine Auditorium in Los Angeles, California December 11, 2011.

Cast member Miley Cyrus and co-star Liam Hemsworth attend the premiere of "The Last Song" at the Arclight theatre in Hollywood, California March 25, 2010.