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"She is not engaged!" Simpson's rep tells PEOPLE.
Rumors of a possible engagement began swirling over New Year's when she was spotted wearing a ring on her left ring finger while out at Miami's Shore Club.
As for their relationship, they seem like they're already married, according to Wentz, who told PEOPLE earlier this year: "We're past the honeymoon period. The truth is, it's crazy to be able to kiss your best friend. It's just a really awesome thing."
