Liam Hemsworth and Miley Cyrus
09/16/2013 AT 02:50 PM EDT
It's officially over: Reps for both Miley Cyrus
and Liam Hemsworth
confirm to PEOPLE exclusively that the engagement is off between the two stars.
The news marks the end of a tumultuous year in which Cyrus, 20, and Hemsworth, 23, have experienced more break-ups than bonding moments.
The couple – who first met on the movie set of 2010's The Last Song
– got engaged
in May 2012. At the time, the singer told PEOPLE, "I'm so happy to be engaged and look forward to a life of happiness with Liam."
But earlier this year, the pair decided to postpone their wedding
Cyrus was subsequently seen out without her 3.5-carat Neil Lane engagement ring but soon it was back on her hand and the couple were reunited
in July in Canada, where Hemsworth was shooting his new movie Cut Bank
, and on the red carpet for his movie Paranoia
Since then the couple seem to have been living separate lives as the "Wrecking Ball" singer continues to plug her album Bangerz
and Hemsworth prepares to promote Catching Fire
Reps for both stars had no further comment.