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Nothing like calling a Jolie-Pitt family meeting for the announcement that the celebrity gossip world had longingly been waiting – and hoping – for.

On a recent spring day, Brad Pitt gathered Maddox, 10, Pax, 8, Zahara, 7, Shiloh, 5, and twins Vivienne and Knox, 3, to present their mom with something.

That would be a tablet-shaped diamond engagement ring, estimated at 16 carats and worth $500,000, and which he helped design with jeweler Robert Procop.

“Angelina cried and smiled” at the proposal, a confidante says. Aww.

The children, who had been eager for their parents to wed after seven years together, were equally overjoyed to see Brad and Angelina engaged.

The source adds. “Everyone hugged once she put [the ring] on. She went around and showed it to each of the kids, one by one. It was magical.”

As the world now knows, Jolie, 36, quietly debuted that long-awaited ring at an April 11 private viewing at the Los Angeles County Museum of Art.

Procop and then Pitt’s manager confirmed the engagement days later. Now, “Angie considers herself bonded to Brad for life,” adds the source.

Speaking of which … do you think they’ll last?