Paris Hilton knows exactly what she will be doing with the $2 million engagement ring her ex-fiance, Chris Zylka, gave her.

The 37-year-old reality star stopped by Sirius XM's The Jenny McCarthy Show on Wednesday, where the host herself asked if the socialite was going to keep the 20-carat pear-shaped sparkler.

"Yeah," Hilton coyly said with a smile, adding, "Diamonds are a girl's best friend."

"The person who we got it from got millions and millions of dollars of free publicity," the former Simple Life star added. "So, I love how social media has basically become like a new form of commercials."

The hotel heiress called off her engagement to Zylka in November after he proposed during their ski trip in Aspen, Colorado, in January. A source close to the two told ET at the time that they broke up and called off their engagement a few weeks before the news got out. The source added that the relationship moved too fast, and Hilton realized over time that Zylka wasn't the one for her, and their relationship just wasn't meant to be.

Just last month, Hilton opened up about how she was doing following the split from her beau of more than two years.

"I'm just really having my me time," she told the ladies of The Talk. "I just feel that, when I fall in love, I fall in love fast and hard and it was this whirlwind romance."

"I've always been obsessed with Disney stories and love stories and I thought it was going to be my happy ending," she continued. "I just realized after time it wasn't the right decision -- but I wish him the best. One day I would love to get married and have children, but for right now I'm just focusing on myself and my work."

See more on their fallout in the video below.

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