Erm, are you getting hitched Katy?!
The singer, 29, sported a simple band with a diamond on it as she arrived at the awards bash, and wasn't shy about showing it off, either.
Katy has been dating musician John Meyer for two years, and rumours have been circling across the pond that an engagement between the couple could be imminent.
Later in the night, as Katy took to the stage to perform her new single 'Unconditionally', she'd ditched the sparkler and left her finger ring-less.
And there was no sign of it when she accepted the award for Best Female, either. Hmm!
Katy divorced Russell Brand in 2011, and recently admitted how much the split affected her: "I was in bed for about two weeks. It hurt a lot."
Katy's spokesperson hasn't come back to us with a comment on the sparkly ring. Watch this space!
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Watch Katy's music video for 'Roar' below:
Engaged couples in the celebrity world in pictures!
Copyright: Instagram Mark Wright