Rosie O’Donnell’s Proposal, $100,000 Ring for Fiancee: All the Details!

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Rosie O'Donnell put a ring of "rounds" around Michelle Rounds' finger!

The talk show host, 49, was all smiles at Thursday's Michigan Avenue Magazine cover party at the Horseshoe Casino in Hammond, IN, where she told Us Weekly about her surprise proposal to New York-based headhunter Michelle Rounds.

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"I proposed with my head down, hand out and a huge lump in my throat," O'Donnell said.

News of the engagement broke Monday–days after the comedienne made an announcement to audience members of The Rosie Show during a commercial break.

But on Tuesday, O'Donnell told viewers that the proposal took place "a few months ago."

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The whirlwind engagement couldn't happen fast enough!

"I knew about a week after we met!" O'Donnell told Us of Rounds, whom she met in a Starbucks, and debuted as her date at a September event in NYC.

"But I did the smart thing and didn't propose right away. You know, I'm at the age where I just knew. I knew she was exactly what I wanted."

And she was willing to pay the price.

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Jewelry expert Michael O'Connor told Us that the ring's estimated value is about $100,000.

"Wow! This is a platinum ring that gets you noticed," O'Connor marveled. "The cushion cut center diamond is approximately 4 carats, and since it's set in platinum, the diamond will be held more securely. There may be additional significance to the fact that the center diamond is surrounded by 'rounds' set into a platinum collar."

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Sources earlier told Us that the couple was planning to get hitched over the Christmas holiday, but O'Donnell said Wednesday they are now considering a private spring ceremony, with a bigger reception in the summer. "I don't want anyone to feel left out!" said O’Donnell.

O'Donnell adds that her kids (with ex Kelli Carpenter) are just as excited about the news as she is. "They are so excited! They can really tell that I am happy and in love, and they love to see me happy. Kelli, my ex, has also found love. It's a beautiful thing. My children will be raised knowing what true love is."

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