Another Hollywood romance bites the dust.

Ending months of speculation, reps for both Miley Cyrus and Liam Hemsworth have confirmed to People that they have called off their engagement.

To call their relationship on-again off-again would be an understatement — the good times seemed to be far outweighed by the bad.

Miley and Liam met on the set of the 2010 summer romance The Last Song and have been dating ever since, despite intermittent break-ups in August and November 2010. By April 2011, they were back on, and in May 2012, Liam put a ring on it — a 3.5-carat Neil Lane ring, to be specific.

"I'm so happy to be engaged and look forward to a life of happiness with Liam," Miley told People.

But it didn't take long before reports of pre-marital strife surfaced, which have only multiplied in recent months. Miley told Bazaar that she doesn't have time to deal with a wedding, and she also stopped following Liam on Twitter.

Plus, the couple has hardly been seen out together, particularly not since Miley's polarizing performance at the 2013 VMAs in August. Honestly, we wouldn't be surprised if these two were splitsville before official confirmation arrived.

While news of Miley and Liam's breakup just (officially) broke today, rumors had been flying all month that Liam had moved on, including the "fabricated" story that Liam was texting Mad Men star January Jones. Most recently, the rumor mill swore that Liam was kissing a "random brunette," then lo and behold, Liam is reportedly spotted out and about with Mexican singer (and brunette) Eiza Gonzalez.

Meanwhile, rumors are flying that Miley's hooking up with producer WiLL Made It.

Whether or not these two have moved on with other people, we weren't about to hear wedding bells anytime soon. Miley told Harper's Bazaar in their latest issue, "I definitely don't have time to deal with a wedding."

Fair enough! These two former lovebirds have plenty of work to help distract them during this challenging time: Miley is busy hyping her fourth studio album, Bangerz, which has already spawned two hits for the singer: "We Can't Stop" and "Wrecking Ball." And Liam is gearing up to film the two-part conclusion to The Hunger Games.

Still, breaking up when you're as invested as MiLiam is a ton of work on its own, unless they've been gradually dismantling their life together for a good, long while. Are they splitting up their canine-dominated family? After all, the pair were living with five adorable adopted dogs.

It's a complicated situation, but who knows? Maybe they'll reconcile again in a few months.

Do you think they're done for good? Or is this just another speed bump in their rocky road? Let us know below.

Source: People

Credit: AlloyDigital Photo: Miley Cyrus Finally Speaks Out About VMAs Performance
Dan Clarendon is an assistant editor at Wetpaint Entertainment. Follow him on Twitter and Google+!