Ashlee Simpson: 'Time Will Tell' About a Baby

04/18/2008 AT 10:00 AM EDT

A day after Ashlee Simpson gushed about the size of the rock she was given by fiancé Pete Wentz, the singer was flashing it on Friday's Today show.

"I feel like a really lucky lady," a bubbly Simpson, 23, told the program's Matt Lauer and Meredith Vieira, before she sang a song from her new CD (to be released Tuesday), Bittersweet World.

Asked if she has a wedding date in mind, Simpson said, "I don't. Right now we're just enjoying the engagement."

And, though a source close to the Simpson family confirmed to PEOPLE that the singer is expecting, she remained mum on the pregnancy buzz. "That's been going around for a year now," she replied. "Only time will tell with that."

After a beat, she added, "I am giving birth to my new record."

On Thursday, Simpson told Ryan Seacrest on his KISS-FM radio show that her ring is huge. "I stare at it. I'm like, 'Oh, my god, I can't believe this is on [my] hand!' "

After the commercial break on Today, in fact, Lauer apologized to viewers for not letting Simpson give them a better view of the ring on her finger.

Admiring the diamond, Vieira said, "So elegant. It's beautiful."

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