Are Naomi Watts and Billy Crudup Engaged? Actress Spotted with Diamond on Ring Finger in N.Y.C.

The actors, who have been dating since 2017, made their red-carpet debut as a couple at the 2022 SAG Awards

Are Naomi Watts and Billy Crudup headed to the altar?

The actress, 54, was spotted with a diamond sparkler on her ring finger on Thursday, as she was photographed out and about in New York City.

Flashing a smile as she walked her dog, Watts also wore a tan blazer over two layered tops — one black, one white — wide-leg jeans, black peep-toe platforms and black sunglasses.

She was not pictured with fellow actor Crudup, 54, whom she has been dating since 2017.

During an appearance on the Today show Thursday, Watts would only coyly joke, "Oh, the brain fog," when asked about a potential engagement by Savannah Guthrie and Hoda Kotb.

Reps for Watts and Crudup have not responded to PEOPLE's requests for comment.

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Related: Naomi Watts and Billy Crudup's Relationship Timeline

Although the Watcher actress and Almost Famous actor have been linked since they costarred in the 2017 Netflix series Gypsy, the pair didn't make their red-carpet debut as a couple until five years later.

In February 2022, they walked the red carpet together for the first time at the Screen Actors Guild Awards, where Crudup was nominated for his role on The Morning Show.

Later that year, Watts and Crudup attended the 74th Emmy Awards, where he was nominated again for his role on The Morning Show.

Watts posted a few Instagram photos the next day, writing in the caption, "Shout out to: @Prada for the frock! 👗Billy for the fun 😘."

RELATED VIDEO: Billy Crudup Jokes He'd Take Girlfriend Naomi Watts to Live on the Moon with Him

In another post, she shared a photo of them posing together on the carpet, captioned, "What a night ... What a dress ... What a gent ... ❤️✨."

Over the course of their relationship, the couple have largely stayed out of the spotlight, making only a handful of public appearances together and rarely discussing each other, although they have shared a few sweet moments on social media.

This past February, Crudup also gave a sweet shout-out to Watts during an interview with PEOPLE in 10, when host Makho Ndlovu asked the Hello Tomorrow! actor what two objects and two people from Earth he'd bring to the moon.

"Well, my guitar, probably, and maybe a six-pack of Corona. And then my son and my girlfriend," Crudup replied.

Watts was previously in an 11-year relationship with Liev Schreiber, which came to an end in 2016. The couple has two children together: Samuel Kai, 14, and Alexander "Sasha" Pete, 15.

Crudup, who also stars in films like 2015's Spotlight and 2019's Where'd You Go, Bernadette dated actress Mary-Louise Parker, with whom he shares 19-year-old son William Atticus, until 2003. He then dated Claire Danes from 2003 to 2006.

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