Nick Lachey, Vanessa Minnillo engaged

Nick Lachey and Vanessa Minnillo are taking their relationship to the next level: They’re getting hitched!

“We’re excited and incredibly happy about our engagement and we look forward to a wonderful future together,” the longtime couple announced in a joint statement.

Lachey, 36, popped the question to Minnillo, 29, on Thursday “near a beach” in California, with an Asscher-cut diamond with baguettes from Bader & Garrin, a source tells PEOPLE.

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