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VIDEO: Bret Michaels Gives Girlfriend 'Promise Ring With Benefits'

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Jul. 14 2010, Published 6:39 a.m. ET

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Despite reports that rocker Bret Michaels is engaged, the Poison frontman cleared the air, explaining the reason behind the extra bling on the ring finger of his longtime girlfriend — and mother of his children.

OK! GALLERY: BRET MICHAELS SHOWS HIS BIG SMILE IN THE BIG APPLE!

"No, we are not engaged yet, it's a work in progress," Bret told the CBS Early Show Wednesday morning, according to E! News. "She has a beautiful promise ring — it's a promise ring, or a friendship ring, with benefits. That's what we call it. But, yes, is it a work in progress? Absolutely."

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Kristi Lynn Gibson has been the rocker's on-off girlfriend for 16 years and is the mother of his two daughters.

The death-defying singer has nothing but positive things to say about his longtime love.

"She's a beautiful woman, she's strong, I love her, we respect each other and I think that's the start of a great relationship," he said.

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