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Megan Fox's red hot "Jonah Hex" premiere dress by Giorgio Armani Privé -- on paper (left), and in the flesh (right). Photos: Courtesy of Giorgio Armani | Valerie Macon/AFP/Getty Images

While Megan Fox's teeny tiny 18-inch waist has been the subject of much talk of late (along with her engagement and subsequent loss of her engagement ring), it was her cleavage that once again stole the spotlight.

At the "Jonah Hex" premiere in Los Angeles, the 24-year-old starlet and Emporio Armani underwear model (see her latest ad campaign here), walked the red carpet alongside co-stars Josh Brolin and John Malkovich in a Giorgio Armani Privé red silk charmeuse cocktail minidress that features bold molded shoulders, fitted long sleeves, and a plunging neckline down to there.

She accessorized with three platinum rings (the "Bow Ring," "H Ring" and "Honor Ring") by Azature studded with 521 black diamonds.

What do you think of Fox's getup? Did she execute Giorgio Armani's vision, as seen in the above sketch? Let us know in a comment below.

In the meantime, check out where Fox landed on a recent survey of the best bodies in the biz.