The speculation ends here, friends. Ashlee Simpson and Pete Wentz are absolutely engaged! Ash made the formal announcement on friendsorenemies.com:

"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," she wrote "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."

The eye-liner-wearing couple were friends before they started dating in 2006 and, last month, Ashlee was seen sportin' a sparkly sparkler on her ring finger. When asked if she and her Fall Out Boy honey were engaged, Jessica Simpson's little sis said it was more of a promise ring -- and that Pete hadn't yet asked her dad, creepy Joe Simpson, for her hand.

But it looks like Pete finally got up the nerve, because Joe told People.com that he is "totally happy" about the engagement and "so excited to have Pete as part of (our) family. We are blessed," he said.

Congrats to Pete & Ashlee -- let's hope they have much better luck than Jess and Nick Lachey.