Ashlee Simpson Not Engaged … Yet!

02/28/2008 at 09:15 AM EST

Ashlee Simpson Not Engaged … Yet!
Ashlee Simpson
Lester Cohen/WireImage; inset Bobby Bank/WireImage
Here comes the bride?

Ashlee Simpson finally opened up about the diamond band she's been sporting on her all-important, left-hand ring finger.

When the singer dropped by Fuse TV on Wendesday to promote her upcoming album, Bittersweet World, she admitted that it's a promise ring from boyfriend of less than a year, Fall Out Boy's Pete Wentz.

She added, "It just means that he hasn't asked my dad yet." (Well the cat's out of the bag: Joe Simpson was in the studio at the time.)

A rep for the 23-year-old would only say, "She is not engaged."

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