Ashlee Simpson and Pete Wentz are engaged

While in Colorado, for visiting Wentz's brother art exhibit, Pete Wentz poped up the big question " Asley, will you marry me?" , and she said yes.

So, the Fall Out Boy bassist is going to marry Jessica Simpson's younger sister.

“She has an amazing ring, and they are so in love,” their friends are telling. Plus that Ashlee’s parents, Popa Joe and Tina Simpson are thrilled! "We are totally happy" and "so excited to have Pete as part of (our) family.We are blessed," her dad says.

Here's the couple realease about their engagement:

"We know there has been a lot of speculation recently about Pete and I, and we wanted our fans to be the first to know, because you guys are the best. Yes, we are thrilled to share that we are happily engaged. Thank you for all of your support and well wishes – it means the world to us. We consider this to be a very private matter, and we wanted to be the first to tell you and to hear it straight from us."