Katie Holmes was spotted on the streets of New York City with a sparkly gold band on that all-important finger.

So, are congratulations in order for the former Dawson’s Creek star?

For a few years now, Holmes, Tom Cruise’s ex-wife has been rumored to be dating Annie star Jamie Foxx, but these rumors heightened again when the two of them were spotted holding hands and playing footsies.

The photo, which offered a rare-glimpse of the couple’s hidden romance, was snapped by a paparazzi last February, but it was only leaked online a few weeks later. It then got published by Us Weekly in March.

Here’s the pic I was just talking about with Katie Holmes and Jamie Foxx holding hands //@RachelBlondie pic.twitter.com/ngHVJNnoa4

— 94.1 KTFM (@941KTFMSA) May 15, 2015

Despite the constant denial of the two stars, many people still believe that they are going out together. They may even be engaged to each other already.

Just this Monday, Holmes was spotted strolling along Soho wearing a black and white dress with wet hair. The Woman in Gold actress appeared to be in a hurry. She was holding a cup of coffee from Le Pain Quotidien with her left hand putting the ring in clear view for everyone to see.

Are Katie Holmes and Jamie Foxx Engaged? http://t.co/sjzKxkIMrO #wedding | https://t.co/2gUI3Gpxz1 pic.twitter.com/jPcyf62nsl

— Beauty Host (@beautyhost) July 17, 2015

An insider close to the couple revealed to People magazine that Holmes had been visiting Foxx “often” at his home and that they “spend hours together” at a time.

Another source tells the same mag that, yes, the pair had been spending a lot of time together, but they were just hanging out as friends, saying, “This is not some intense romance.”

“Jamie and Katie are friends and have been for a long time. They are two adults who are attractive and single, and so apparently conclusions will be drawn,” the source adds.

“But contrary to those conclusions, they’re not about to run off and make some serious commitment.”

Well, it looks like we won’t be hearing wedding bells ringing anytime soon…or will we?