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19-year-old Miley Cyrus engaged to Liam Hemsworth, her parents ‘thrilled’ by the news

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Hemsworth and Cyrus at the Vanity Fair Oscar Party (Pascal Le Segretain/Getty Images)

Miley Cyrus has lived an accelerated life. She landed the starring role in "Hannah Montana" at 13, was at the center of a risqué photo scandal at 15, made headlines when she was caught on camera smoking out of a bong at 18, and, now, she's engaged at just 19 years old.

That's right — the one-time Disney star has accepted a marriage proposal from her boyfriend of three years, 22-year-old Australian actor Liam Hemsworth. "I'm so happy to be engaged and look forward to a life of happiness with Liam," Cyrus tells People magazine.

[Related: Miley Cyrus: Let's talk about sex!]

Although there were rumors that Hemsworth and Cyrus, who met on the set of the Nicholas Sparks movie "The Last Song" in 2009, became engaged in March, she quickly shot them down on Twitter, noting: "I'm not engaged. It's a topaz, people." The ring on her finger following Hemsworth's May 31 proposal is a similar cut, but it's most definitely a diamond. "He wanted something beautiful and unusual," jeweler Neil Lane tells People of the 3.5-carat cushion-cut gem, which is set in a gold band with smaller diamonds around the outside.

During their three years together, Cyrus and Hemsworth have gone through several breakups — the longest was from November 2010 to April 2011. At the time of their split, E! reported: "Liam wanted more, but she's 17 and has other priorities right now... She is not ready to settle down, and Liam's not a happy camper." Despite their ups and downs, Cyrus has said of her love: "I've never gotten along with someone so well." She also said he fits in well with her family: "My parents are a little loco, so if you love me and my family, which has five kids, my mom, my dad, my grandma and about 10,000 dogs, after you meet my lifestyle, then you're good. You're a keeper."

[Related: Miley Cyrus' 'LOL' bombs at the box office]

Although Cyrus is still in her teens, her parents, Billy Ray and Tish, are "thrilled" she's engaged, a source tells People. "[They] have always thought of Liam as part of the family." His family, including Thor star Chris Hemsworth, are "equally overjoyed."

The couple, who live together with their menagerie of pets in Los Angeles' San Fernando Valley, aren't in a rush to the altar. "It's all very new for them," a source tells the magazine. "They're just so in love and so happy that they can take things to the next level."

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