Jennifer Lopez’slove don’t cost a thing — but a ring!
The singer is engaged to former MLB playerAlex Rodriguez, he announced viaInstagramon Saturday.
“She said yes,” Rodriguez, 43,captioned a photo of Lopez, 49, wearing her stunning diamond engagement ring as he holds her hand.
Lopez shared theromantic imageon her Instagram, too, including eight black heart emojis in her caption.
Benny Medina, Lopez’s long-time manager, also confirms the news, while Rodriguez’s rep Ron Berkowitz tells PEOPLE, “They are on vacation and got engaged today.”
According to an insider, Rodriguez popped the question during their getaway in the Bahamas.
Jennifer Lopez and Alex Rodriguez.Jennifer Lopez/Instagram

“Everyone is super happy for both of them,” a friend of the couple tells PEOPLE.
Jeff Kravitz/FilmMagic

The news comes nearly seven weeks after the couple celebrated their two-year anniversary on Feb. 3.
“You make my world a more beautiful safe and stable place … in the midst of our ever-changing, ever moving life,” she wrote in part in atouching Instagram post.
“We are meant to be, and how much you mean to me cannot be put into words,” he penned in part in apost of his own.
“Everyone wants a fairy tale. They all want a romantic comedy, a happy ending. We all do,” LopeztoldUSA Todayin an interview published in December. “But it’s not a movie, even if you see us on Instagram or on the shows.”
Kevin Mazur/Getty

A sourceconfirmed to PEOPLEin March 2017 that Lopez and Rodriguez “have been dating for a few weeks.” The former New York Yankee confirmedtheir relationship statusshortly after duringan appearance onThe View, and the pair — dubbed “J-Rod” —made their red carpet debut as a coupleat the Met Gala in May 2017.
“It was just one of those things where you feel compelled to do something you wouldn’t normally do,” she said in a jointVanity Faircover story of their choice to step out.
Kevin Winter/Getty Images

TheSecond Actstar originally met her now-fiancé in 2005 at Shea Stadium when the Yankees played the New York Mets. In the winter of 2016, she re-approached him outside a Beverly Hills, California, restaurant where she was having lunch; later that day, Rodriguez called her to have dinner, and they went on their first date at the Hotel Bel Air. Sparks flew instantly.
“I understand him in a way that I don’t think anyone else could and he understands me in a way that no one else could ever,” Lopez toldVanity Fair. “We put so much pressure on ourselves to be great, to be the best all the time. We understood that about each other. When we came together it was, ‘Oh my God, I was the same way.’”
Both superstars are focused on family. Early into their relationship, the A-list pair met one another’s children: Lopezhas 11-year-old twins, Maximilian David and Emme Maribel, with amicable ex Marc Anthony; and Rodriguez has two daughters,Ella Alexander, 10, andNatasha Alexander, 14. Their broods have evenspent holidays together, fromThanksgivingto Christmas.
Alex Rodriguez/Instagram

“Our kidsget along really well. We’re both from New York, we’re both Latin, we’re both in our 40s, we’re really enjoying life, but she really is one of the most impressive and smartest human beings I have ever met,” the athlete toldExtrain June 2017.
“He’s a loving father,”Lopez toldExtrain July. “He’s a generous human being with his family, with his friends, with me. He’s caring and sweet and capable and responsible and just all the beautiful things you would want a man to be.”
The couple teamed up in October 2017 to organize adisaster relief telecastand concert to benefit Hurricane Maria victims in Puerto Rico. That same month, theShades of Bluestarlisted her $27 million N.Y.C. apartmentso she and Rodriguez could find a place “for the whole family,” asourcetold PEOPLE at the time. “They are starting to make more financial decisions together. It’s nice for Jennifer to be with a man who has his own money and spends it wisely.”
From the start, the pop star has always been “The One.” A second insider previously told PEOPLE thatLopez is on “another level” for Rodriguezwhen compared to his past girlfriends. “She’s amazing. She comes to this dinner and there are 20 people there, a lot of sports celebs and big guys in the business, and she can sit right down with them and start talking sports,” added the source. “She loves baseball.”
Lopez also enjoyshitting the gymwith her husband-to-be. “Jennifer and I work out together,” RodrigueztoldPEOPLE in August 2017. “We like to lift, and we enjoy bike riding. She is a talented jock.”
Before making it official, Lopez and Rodriguez were no strangers to engagement rumors.
“Their relationship from the beginningwas very passionate, and they moved quickly,” a Lopez source told PEOPLE.
While planning a future together, Lopez and Rodriguez arefocused on their children’s happiness. “Life is all about family for both of them,” the source told PEOPLE. “Besides the fact that Jennifer and Alex always had a strong attraction to each other, this seems to be the main reason why their relationship works so well. The kids always come first for both of them.”
source: people.com