Jennifer Lopez’s love don’t cost a thing — but a ring!

The singer is engaged to former MLB player Alex Rodriguez, he announced via Instagramthis link opens in a new tab on Saturday.

“She said yes,” Rodriguez, 43, captioned a photo of Lopezthis link opens in a new tab, 49, wearing her stunning diamond engagement ring as he holds her hand.

Lopez shared the romantic image this link opens in a new tab on her Instagram, too, including eight black heart emojis in her caption.

Benny Medina, Lopez’s long-time manager, also confirms the news, while Rodriguez’s rep Ron Berkowitz tells PEOPLE, “They are on vacation and got engaged today.”

According to an insider, Rodriguez popped the question during their getaway in the Bahamas.

The news comes nearly seven weeks after the couple celebrated their two-year anniversary on Feb. 3.

“You make my world a more beautiful safe and stable place … in the midst of our ever-changing, ever moving life,” she wrote in part in a touching Instagram post.

“We are meant to be, and how much you mean to me cannot be put into words,” he penned in part in a post of his own.

“Everyone wants a fairy tale. They all want a romantic comedy, a happy ending. We all do,” Lopez told USA Today in an interview published in December. “But it’s not a movie, even if you see us on Instagram or on the shows.”

She continued, “We’re happy. We’re taking it day by day. And it’s great.”

Both superstars are focused on family. Early into their relationship, the A-list pair met one another’s children: Lopez has 11-year-old twins, Maximilian David and Emme Maribel, with amicable ex Marc Anthony; and Rodriguez has two daughters, Ella Alexander, 10, and Natasha Alexander, 14. Their broods have even spent holidays together, from Thanksgiving to Christmas.

While planning a future together, Lopez and Rodriguez are focused on their children’s happiness. “Life is all about family for both of them,” the source told PEOPLE. “Besides the fact that Jennifer and Alex always had a strong attraction to each other, this seems to be the main reason why their relationship works so well. The kids always come first for both of them.”

Via: People