Evan Rachel Wood was spotted out with her boyfriend, "Billy Elliott" actor Jamie Bell this weekend, wearing a diamond engagement ring.
Though the couple has yet to comment on engagement reports, a source confirmed to Us Weekly that they are indeed engaged.
Meanwhile, Wood, 24, teased the rumor Tweeting, "I would like to clear up some rumors floating around. No...I am not a smoker."
Wood's rep had no immediate comment on the engagement reports.
According to the weekly magazine, Bell was seen shopping for the engagement ring in late December. Wood was spotted wearing the ring on Saturday evening, at The Hotel Cafe in Hollywood, where she performed a medley of Beatles songs (see video below) with some of her co-stars from her 2007 film, "Across the Universe."
Wood recently called Bell, 25, her soul mate, Tweeting a photo of a Christian Louboutin shoe box and Nintendo "Zelda" cartridge and writing, "You know you've found your soul mate when they give you shoes and Nintendo games for Christmas."
Wood and Bell met in 2005 when they co-starred in Green Day's music video for "Wake Me Up When September Ends" ( watch the official video here). They dated for a year and got matching tattoos before splitting up in 2006. They reunited last summer, after Wood broke off her engagement from Marilyn Manson.
Bell rose to fame in the 2000 Oscar-nominated film "Billy Elliot" and has since appeared in films like "The Chumscrubber," "Jumper," "Jane Eyre" and "The Adventures of Tintin."
The British actor will next appear opposite Elizabeth Banks and Sam Worthington in "Man on a Ledge," which is slated for release on January 27, 2012.
Wood is best known for appearing in movies like "Across the Universe" and the hit HBO series "True Blood." She recently played Veda Pierce in the Emmy nominated HBO miniseries "Mildred Pierce" and has also starred in films such as "The Wrestler," "The Ides of March," "Thirteen" and "The Conspirator."
The actress has also made headlines for her high-profile, two-year relationship with shock-rocker Marilyn Manson, The two called off their engagement and split in August 2010. The actress has said she is attracted to both women and men.
Wood recently lost a tooth on her 24th birthday while partying with friends in Paris and joked that she looked like a "nerdy hillbilly," quoting a line from the film "The Hangover."