Former MTV reality starlet (and infamous SNL lip syncher) Ashlee Simpson and Fall Out Boy bassist Pete Wentz are officially engaged!

Ashlee Simpson and Pete Wentz announced their engagement news yesterday, saying:
“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.”

Just no Newlyweds reality show, k?