After three years and two kids together, Nicole Richie and Joel Madden have finally gotten engaged! When a fan spotted Nicole wearing a new ring on her left hand at NYC hotspot Abe & Arthur’s just after 9 pm on Feb. 15, the fan congratulated Nicole and fiancé Joel Madden — who both confirmed the good news. “Thank you,” a beaming Nicole told the fan. Joel echoed the thanks as well. A friend of Nicole’s tells Life & Style, “she’s beyond thrilled and so excited to start planning her dream wedding.”

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UPDATE: Here’s the ring! Newly engaged Nicole Richie poses outside the “Late Show with David Letterman” studios in NYC last night!