After three years of dating, Miley Cyrus and Liam Hemsworth are engaged, their reps confirmed to PEOPLE.

"I'm so happy to be engaged and look forward to a life of happiness with Liam," the 19-year-old singer said.

Hemsworth reportedly proposed on May 31st with a 3.5-carat diamond ring. She happily accepted. The pair met in 2009, while co-starring in "The Last Song."

Her father, Billy Ray, seemed pleased with the news.

"All I ever hoped for as a Daddy was to see my kids reach their dreams," he tweeted. "To find happiness...peace of mind ...and someday know... true love."

Our little "Hannah Montana" star is all grown up. How cute.