Aussie billionaire James Packer and American songstress Mariah Carey are engaged!

A reliable source has confirmed to AAP that the couple will wed, following reports Packer proposed to the Grammy winner with a ring on Thursday night in her home town of New York.

“We’re told that Mariah’s new diamond bling comes in at around 35 carats and that no wedding date has been set just yet,” said E! News.

Packer secretly rounded up the Hero singer’s close friends for a private dinner at Eleven Madison Park to propose, TMZ reported.

The couple have been dating since June last year. Carey has been married twice – to music mogul Tommy Mottola and then to Nick Cannon, the father of her twins. Packer has also been married twice and has three children.