And just last night we got a glimpse at Bush's giant solitaire sparkler, which she wore at a FEED charity event she was involved in to benefit Haitian children. Donna Karan was also in attendance.
We showed the somewhat unclear picture of the ring to Francesca Ferrante at New York's Diamond Information Center for a gander at its size and worth.
"I can't quite tell from image, but it looks to be approximately a 3-4 carat square diamond engagement ring on a white gold or platinum band," says Ferrante. "I would estimate it at $80,000 to $100,000. A very classic ring, not surprising from a Lauren!"
The newly engaged couple both work in the fashion industry, he as Polo's SVP of advertising and marketing and she as a designer behind her own label Lauren Pierce and also a philanthropist thanks to the aformentioned FEED Project, which she helped found, that benefits the United Nations World Food Program.
Check out how Bush's bauble stacks up to other celebrity engagement rings in this glittering gallery.
And click here for a roundup of American 'Royal' Weddings.