Credit: ME/Stefan/Flynet

Orlando Bloom's bride-to-be has her bling!

Supermodel Miranda Kerr stepped out in Hollywood on Wednesday, two days after actor Bloom (via his rep) confirmed their engagement to

Kerr's accessories for the outing? Her adorable yorkshire terrier -- and a huge, brand-new engagement ring!

A rep at the Diamond Information Center tells Us Kerr's ring is an oval diamond set on a white gold or platinum band. It has an estimated 3-4 carats and could run as high as $65,000.

Bloom, 33, and Kerr, 27, have been dating since 2007 after meeting through a mutual friend. See more photos of the ring.

"Miranda and I spend so much time apart; she's working hard, I'm working hard, so we have to grab time together whenever we can," Bloom gushed to reporters last fall. "A weekend here, a weekend there ... We are just enjoying our time together now."

Dodging premature engagement talk earlier this year, Kerr told Britain's Hello! magazine, "Orlando is an incredible man and he's a very genuine and authentic individual. I'm grateful that he's in my life."