Katy Perry gets our hearts racing with her skintight jeans heart-shaped ring.

Katy was out with John Mayer on Valentine's Day and was spotted wearing a heart-shaped ring from him on her ring finger, prompting many to wonder whether they're engaged.

As it turns out, they aren't engaged, and the ring from John was just a sweet gesture, according to Hollywood Life.

“It was purchased about a week ago in Daniel Gibbing’s jewelry boutique by John Mayer," a source says about the heart-shaped ring. 

"It’s a one-of-a-kind Daniel Gibbings ring featuring a 12-carat ruby high-dome cabochon heart-shaped center, accented by two teardrop faceted tsavorites and rubies, set in 20 karat gold," continues the source. We're swooning just thinking about it.

“[Valentine's Day] was the first day Katy was spotted wearing the ring, as far as I know,” the source points out.

However, a proposal is not in the couple's immediate future. 

“They aren’t engaged, and I wouldn’t anticipate to see them engaged anytime soon," says a second source.

Still, we had no idea what a romantic guy John was!

Source: Hollywood Life