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Leonardo DiCaprio & Bar Refaeli: Not Engaged

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Mar. 30 2009, Published 7:32 a.m. ET

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Even though the Internet is abuzz with rumors that Bar Refaeli has been walking around with an engagement ring on her finger, don't expect to hear the ringing of wedding bells anytime soon for the Sports Illustrated beauty and her superstar beau, Leonardo DiCaprio.

"There is no truth to it," a source close to Leo reveals to OK!.

But what about the fancy finger jewelry she was been spotted rocking over the weekend?

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Leonardo DiCaprio
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"Bar just had the ring on that finger," the pal explains, letting us all down gently. "Nothing more."

The rumors began yesterday when the couple was spotted leaving the Ducati store in Beverly Hills, and Bar's ring caught the light.

The lesson to be learned — sometimes jewelry is just jewelry.

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