Miley Cyrus’ engagement ring: all the sparkly details!

Liam Hemsworth put a ring on Miley Cyrus — and what a ring it is!

On Wednesday, news broke that the young twosome, who started dating in 2009 after meeting on the set of the movie "The Last Song," are betrothed. The Australian actor spent a nice chunk of his "Hunger Games" paycheck to purchase the Neil Lane engagement ring, which boasts a 3.5-carat diamond set in an 18-karat gold band, featuring carved diamond floral motifs in an art nouveau pattern.

[Related: Miley Cyrus and Liam Hemsworth's rocky romance: a look back]

"He wanted something beautiful and unusual," Lane, who has made rings for celebrities from Britney Spears to Jessica Simpson, told People magazine.

The center stone has a special history — the cushion-cut diamond dates back to the late 19th century. "It was hand-cut around 1880 or 1890 and it's unique and in its original form," Lane told People. "At that time no two diamonds were alike, as they were all hand-cut, so it's fascinating to look at because it hasn't been re-cut to look contemporary over the years. I find that really romantic." As for the setting, which features smaller diamonds to accent the large main stone: "The light flashes and sparkles no matter where Miley moves her hand."

[Related: Find out how Miley Cyrus persuaded Liam Hemsworth to propose]

According to the jeweler, the ring was completed last week and Hemsworth, 22, wasted no time in asking 19-year-old Cyrus to marry him, popping the question on May 31 in Los Angeles, where they share a home with a menagerie of pets. The day after the proposal, Cyrus cryptically tweeted, "Heaven is a place on earth" with a heart next to it. Today, she's feeling more open about the news, posting: "Thank you for all the love today. I'm happy to share this news with you all. I feel like all my dreams are coming true."

As for the value of the former "Hannah Montana" star's new gem, Lane didn't dish on that detail. However, Mitchell Egenberg, diamond expert and jeweler to the stars, told that in his estimation the ring is worth approximately $100,000!

Whew! Luckily, Hemsworth has paychecks from a hit movie trilogy to defray the costs of his jeweler bill!

More Celebrity Features on Yahoo!:

Follow omg! on Twitter