Iggy Azalea Is Engaged To Nick Young; Swaggy P Proposes With 10.43 Carat Diamond Ring Worth $500,000

Los Angeles Lakers' player Nick Young popped the question to Australian rapper Iggy Azalea on Monday, and she said “Yes!” The basketball player asked Azalea to marry him on his thirtieth birthday in Los Angeles, with a giant 10.43-carat diamond ring worth $500,000.

The ring has an 8.15-carat fancy intense yellow cushion cut center stone along with 2.28-carat white diamonds, Daily Mail reported. After the proposal, Azalea posted a picture of the ring along with photos of the newly-engaged couple flaunting the precious piece of jewelry. She referred to the proposal as the “happiest day” and added “Love you @swaggyp1” as the photo's caption.

Young, also known as Swaggy P, posted on Instagram: “She said yes. It's over man. I'm getting married!”

The couple has been dating since September 2013 and Young has a three-year-old son Nick Jr. from a previous relationship. For their first date, the two had reportedly visited the discount store Target.

"It was a beautiful celebration for Nick with only his close friends and family. Nick completely surprised Iggy with the proposal. She was shocked and so excited and emotional at the same time," a source told E! Online, adding: "Nick has known for a long time Iggy was the one for him, but he was just waiting on the perfect time to pop the question. They both have gotten very close these passed few months and he can't think of anyone else to spend his life with but her. One of the most important things about Iggy is the way she is to his son."

Young was also involved in the process of designing the ring made by Jason of Beverly Hills.

"Nick was very involved in designing the ring. We wanted it to be both a ring of Iggy's dreams and a ring that fit her personal style. It is always an honor when a client trusts me to help design a ring that symbolizes one of the most important decisions of their life," said Jason Arasheben, CEO of Jason of Beverly Hills, according to Entertainment Tonight.

The proposal came just a day after Young reportedly said “of course” marriage was on the cards, but added: “But I can’t give you that surprise. You’re gonna ruin that surprise."

Jeannie Mai, host of "The Real Talk Show," who also attended Young's birthday bash, said on Instagram, according to People magazine: "She said YES!!! I just love that Nick used his bday party to propose to the love of his life. That face…" adding: "BEST NIGHT EVER for @thenewclassic & @swaggyp1. Congratulations- praying #HappilyEverAfter over you both #HeProposed!!!"

Here's how Swaggy P proposed to the 24-year-old "Black Widow" singer.