Rep: Heather Locklear "Is Not Engaged"

Heather Locklear isn't wedding beau Jack Wagner any time soon.

The actress, 47, was spotted wearing a diamond on her ring finger while walking with Wagner, 49, through JFK airport in New York City last week – sparking rumors that the couple was engaged.

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But a rep for Locklear tells "She is not engaged."

She's been sporting the bauble since at least September 2008.

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Locklear has been dating her former Melrose Place costar since 2007 – shortly after she finalized her divorce to Richie Sambora.

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Wagner currently plays a sea captain on The Bold and the Beautiful. Locklear recently announced that she's not returning to the CW's Melrose Place spinoff.