Congratulations are in order: Hilary Duff is officially engaged!

The 31-year-old Younger actress and mom of two broke the news on her Instagram that she and boyfriend Matthew Koma (a singer-songwriter and DJ) are tying the knot. She flashed her engagement ring and captioned the two photos with a simple, “he asked me to be his wife.” Koma posted the same photos on his account, saying, "I asked my best friend to marry me…" Duff commented on her fiance's post, "thanks for the promotion babe."

There's no closeup of her ring (yet), but don't forget that Instagram has a zoom feature. From what we can tell, the ring is a very classic, very large solitaire diamond. Shane Co. VP of Merchandise Alicia Davis says the jeweler estimates the ring “to be a 3 carat elongated cushion cut diamond on a split-shank band made of either rose or yellow gold.” She continued, “This ring could retail for $50,000 to 75,000.” Yowza.

The two have been together since early 2017, dating off and on until September of that year when they settled down. Duff announced she was expecting in June 2018 and they welcomed daughter Banks Violet Bair on October 25 of last year (his first child and her second). Duff was previously married to Mike Comrie until 2016, with whom she shares 7-year-old son Luca.

Happy for you guys! Bring on the wedding bells.

RELATED: Hilary Duff Just Got Real About Deciding to Stop Breastfeeding Her 6-Month-Old

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