It had all the earmarks of a wedding -- festive tiered cake and loving looks -- but Marc Jacobs and fiance Lorenzo Martone were just celebrating their engagement... again.

It appeared that the designer and Martone had tied the knot when they was feted during a recent holiday trip to St. Barths, yet a source confirmed to StyleList that the soiree was simply an engagement celebration.

The exclusive dinner party was hosted by art dealer Larry Gagosian, complete with a cake bearing the couple and Jacobs' two Bull Terriers, but no wedding took place.

At David Barton's holiday party, just two days before they left for their vacation, Jacobs was flip about when they would get married.

Jacobs told StyleList: "We're working on it. We have our license but we haven't done the actual ceremony yet. We've had to postpone the actual ceremony a couple of times, but we'll do it."

Jacobs and Martone got engaged last March on their one-year anniversary. Jacobs shared with StyleList:

"It was the sweetest thing ever. We went to the Mercer Hotel and we were both very tired. We said we weren't going to do anything special that night. I had my head on Lorenzo's shoulder, and I looked up and he had projected, 'Bear, will you marry me?' on the ceiling. When the waiter brought out our appetizers, there were two ring boxes. He had arranged everything -- it was so romantic."

They were originally planning a June wedding at Jacobs' business partner Robert Duffy's house in Provincetown, MA, but the scheduling never came together.

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