Sofia Vergara Wears Giant Bling on Engagement Finger

… Already?!

Though Sofia Vergara, 42,and boyfriend Joe Manganiello, 37, have been making headlines thanks to their combined off-the-charts hotness, the Modern Family star now has people wondering if the two took their romance to the next level. Stepping out in West Hollywood, Calif. on Monday, the actress flashed what appeared to be a humongous sparkling diamond ring on her left ring finger.

But don't start wishing Sofia congratulations just yet.

A source confirms the stunning purple topaz ring is actually from her new Kay Jewelers collection -- which retails for $1,179 -- so it's safe to say, this is not engagement ring bling from Joe.

PHOTOS: 7 Reasons Why Sofia Vergara and Joe Manganiello Are Perfect Together

And why rush things? It's only been two months and these two are still just having "fun," as she recently told ET's Brooke Anderson at the Hollywood Foreign Press Association's Grants Banquet.

Watch the video below!