Kylie Minogue is showing off a very sparkly new accessory!

The Australian singer was spotted sporting a gorgeous diamond engagement ring on the NME Awards red carpet on Wednesday -- even posing for photogs with her left hand placed prominently on her hip!

Minogue's ring was also on full display in an Instagram post, as she prepped to present Coldplay with the God-Like Genius Award.

A source confirmed to Us Weekly that the 47-year-old Minogue is engaged to 28-year-old British actor Joshua Sasse, whom she began dating in September 2015 after meeting on the set of Galavant.

ET has reached out to the singer's rep for comment.

PICS: Kylie Minogue Looks Stunning! See Her Latest Stage Styles 

This isn't the first time Minogue has been seen wearing the vintage-inspired bauble. She and Sasse posed together at the Prince's Trust "Invest in Futures" gala in London earlier this month.

Sasse gushed about "supporting my lady" at the event, where she hit the stage for a performance.

To say these two have chemistry would be quite the understatement! Only ETonline had your first look at Minogue's appearance on Galavant last December -- in which she stripped off Sasse’s shirt on-screen. See it below!

WATCH: Kylie Minogue Strips Joshua Sasse Down in 'Galavant'