Posted by Adam

Wednesday February 17, 2010

NICOLE Richie showed off her big, sparkly engagement ring (see picture number two!) while she launched her Winter Kate Spring 2010 collection at Bloomingdale’s in New York Tuesday afternoon.

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The socialite announced on Monday’s The Late Show with David Letterman that she’s engaged to her Good Charlotte rocker boyfriend Joel Madden.

Richie, 28, and Madden, 30, started dating in December 2006 and have two children together: Harlow, 2, and Sparrow, 5 months.

“Yep. I’m engaged. Very happy,” wrote Joel on Twitter Monday. “Yeah we’ve been engaged for a while so your [sic] all kind of late on that. But Thanks for the hooplah all the same.”

“Nicole and Joel are in the process of planning the wedding,” a source told Us Weekly magazine. “She’s very involved in every detail. She’s thrilled.”

Nicole’s father, soul singer Lionel Richie, has since admitted he’s excited about walking his daughter down the aisle.

“My happiness for Nicole and Joel knows no boundaries,” he said. “They have given me two beautiful grandchildren, Harlow and Sparrow, and have proven to be great parents.

“I am not sure who is luckier, Nicole and Joel to have each other, or me, to have both of them in my life. I cannot wait to give away the bride!”

[Pics: Janet Mayer]

Tags: nicole richie