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OTRC: Nikki Reed shows off engagement ring from Paul McDonald - see photo

"Twilight" star Nikki Reed showed off her new engagement ring from her fiancé, former "American Idol" contestant Paul McDonald at the 8th Annual Inspiration Awards on Friday in Beverly Hills, Calif.

Reed showed off the sparkling engagement ring as she arrived at the Step Up Women's Network Inspiration Awards, wearing a cream dress with red polka dots. The actress and aspiring singer revealed their engagement last week after dating for about three months.

Reed was also spotted with the ring during the 2011 MTV Movie Awards and when she was asked about marrying McDonald, she replied, "He's the one," according to E! Online.

A source close to the couple confirmed the engagement, according to the website.

Reed, 23, plays vampire Rosalie Hale in the hit "Twilight" movies, alongside stars Robert Pattinson and Kristen Stewart. She recently filmed scenes for the fourth installment, the two-part "Breaking Dawn." McDonald, 26, was a finalist on "American Idol" season 10.

Reed and McDonald first met when the "American Idol" finalists attended the Hollywood premiere of "Red Riding Hood" in early March.

The couple's meeting was caught on camera as Reed said, "You're amazing. I'm blushing, I should go" before hugging McDonald awkwardly.

When she was out of earshot, McDonald said to the camera, "Was she a famous actress or something? I'd hang out with her!"

McDonald recently said during a radio interview that he hasn't seen any of Reed's movies, saying, "She's super cool, man. I think she likes me more because I've never seen any of her stuff."

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