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Mariah Carey sporting some bling on her ring finger in New York Saturday night

Word on the street is that 38-year-old Mariah Carey and 27-year-old Nick Cannon are engaged. Rumors started flying after Mariah was spotted Saturday night with a rock on her ring finger and Nick on her arm at the Tribeca Film Festival after party for her film “Tennessee.”

When asked by People magazine that evening what Cannon loved about Mariah, he replied “Everything.”

According to Access Hollywood, a source close to Mariah has confirmed the engagement, however, in an interview with MTV on Monday, Nick called Mariah a “good friend.”

First, the actor danced around our questions about the Carey rumors, saying that the singer’s “a great person.”

When pressed for more, he positively squirmed, adding, “I can’t even know what to say. She’s probably the most festive, remarkable person I’ve ever met. Good friend.” When pressed further about the rumors, he said, “Rumors happen. They do.”

Nick was recently engaged to Victoria’s Secret model Selita Ebanks. The couple called off the engagement in October, and we correctly predicted that we wouldn’t have to wait long to see Cannon with a new lady on his arm.

Mariah, who was previously married to record executive Tommy Mottola, was most recently romantically linked to music executive Mark Sudack.

So what do you think? Engaged? Not engaged? Ashton Kutcher Pop Fiction?

UDATE: Seems my Pop Fiction theory was wrong. Mariah and Nick got MARRIED on Wednesday!