Miley Cyrus Flaunts Engagement Ring, Wears Short-Shorts

Miley Cyrus showing her new engagement ring during a photo shoot in Malibu, CA. June 6, 2012. Credit: BAUER-GRIFFIN.COM

Engagement party in the U.S.A.?

Not yet -- but bride-to-be Miley Cyrus clearly has no qualms about pairing her 3.5 carat vintage Neil Lane ring with a pair of Daisy Dukes.

At a photo shoot in Malibu Wednesday, the newly engaged Cyrus, 19, rocked her bauble -- picked out by her boyfriend of three years, Liam Hemsworth -- with short denim cutoffs and a white crochet crop-top.

An insider close to the LOL star tells Us Weekly that, despite her age, Cyrus is ready to wed Hemsworth, whom she met on the set of The Last Song in 2009.

"She's very mature! She's 19 going on 40, so she is ready for [marriage]," the insider explains of her decision to tie the knot with the Hunger Games star, 22. "Liam likes her wild side, but Miley's also mature and supportive. They're both ready for this."

As for wedding plans?

Says the source, "Nothing yet, but she's starting to work on it!"