Credit: Steven Lawton/FilmMagic; Brian To/FilmMagic

Holly Madison may not have been thrilled to hear of ex, Hugh Hefner's engagement news -- but was she jealous? Not so much.

"I think everyone expected me to feel one way, they expected me to be really jealous," the reality star, 31, who split with the Playboy magnate, 84, in 2008 after seen years of dating, tells "But it's not how I feel. We've been apart for two years. I just want him to be happy."

Continues Madison, whose face-to-face meeting with Hefner and his new fiancee Crystal Harris, 24, aired on her reality show, Holly's World, "I'm more protective than anything else. I just wanted to make sure he's making the right choice."

It helps that Madison, who's hosting Saturday's Leather & Laces Super Bowl party in Dallas with fellow Girls Next Door alum Bridget Marquardt, has a new man in her life: All Time Low guitarist Jack Barakat.

"He's totally cool -- really down-to-earth, she tells Us of her beau of five months, who will be joining her for the Super Bowl festivities. "We're both really busy, but we find a way to make it work. I like having someone as busy as me, its a good match up I think."