Gwen Stefani and Blake Shelton are engaged after five years together. The No Doubt rocker, 51, and the country superstar, 44, announced the happy news on Instagram Tuesday, giving fans a peek at Stefani’s dazzling diamond engagement ring in the process.

Shelton had the sparkler custom-designed, according to Us Weekly — and spared no expense.

“Gwen’s ring appears to feature a classic, six-prong setting with a 6-9 carat solitaire diamond set on a white gold or platinum band,” Brilliant Earth‘s SVP of merchandising and retail expansion, Kathryn Money, told Page Six Style.

“Depending on the quality and specific characteristics of center stone, we estimate the cost of the ring to be around $500,000+.”

Katie Zimmerman, CMO at Blue Nile, believes the “Sweet Escape” singer’s rock could be worth even more. “Gwen’s massive new bling appears to be a round or oval cut, set in a solitaire or simple pavé platinum setting,” she explained.

“With the center stone nearly reaching Gwen’s middle knuckle, I estimate the total weight of her engagement ring to be approximately 8-10 carats at a value of $700,000-$800,000, depending on the color and clarity of the diamonds.”

With a ring like that, we’d be “Happy Anywhere,” too.