09/10/2012 AT 06:00 PM EDT
Carrie Ann Inaba and her fiancé, accountant Jesse Sloan, have quietly called off their engagement.
"They decided early in the summer to break off their engagement and have remained friends," a rep for the Dancing with the Stars
judge tells PEOPLE.
Sloan, 40, proposed
to Inaba, 44, on Live! With Regis and Kelly
in March 2011.
In the weeks following the surprise proposal, Inaba gushed about how the duo planned to have a seaside wedding so that their guests could walk barefoot on the sand. The ocean, she told PEOPLE
, "has such a spiritual meaning. It's so vast and yet it unites everyone," Inaba said last year. "We want everybody to get their feet wet in the water after we say our vows."
Inaba will be back for Dancing
's 15th season, which kicks off Sept. 24 on ABC.