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Peta Murgatroyd, Maksim Chmerkovskiy, Instagram

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UPDATE: The happy couple is speaking out after their show-stopping proposal Saturday evening.

"For years I knew Peta is the one for me," Maksim Chmerkovskiy said in a statement to E! News. "She is the perfect fit with my family and she has made me a very happy man."

Peta Murgatroyd added, "I couldn't have been more surprised. Maks' romantic proposal is something I will cherish for the rest of my life. I'm excited for the next chapter in our lives and to plan the wedding of my dreams with Maks."

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Get ready for some new bling in the ballroom!

E! News has learned Maksim Chmerkovskiy popped the question to his leading lady Peta Murgatroyd Saturday night in Miami.

"I'm in love with you, and I want to be in love with you for the rest of my life," Maks told his girlfriend during the third night of performances for SWAY: A Dance Trilogy. What comes next is a proposal that got the entire audience cheering and up on their feet.

"She said 'yes,'" the former Dancing With the Stars pro wrote on Instagram with a photo of the custom Cantamessa engagement ring. 

His brother Val Chmerkovskiy also confirmed the news with his own heartfelt post on social media moments after the show ended.

"I love the two of you will all my heart. You have my brothers loyalty, heart. His one and only for the rest of his life," he wrote. "You're family now and that makes you my sister, the second most important woman in my life. What's mine is yours. Forever and always."

He continued, "Petachka your team got numbers now  #trapqueenfolife #famovereverything @petamurgatroyd @maksimc."

Maksim Chmerkovskiy, Peta Murgatroyd

John Sciulli/Getty Images for Caruso Affiliated

Meryl Davis, Rumer Willis and Tony Dovolani were also on-hand to watch the magical moment unfold inside the Olympia Theater.

The two DWTS pros dated for 10 months in 2012 and 2013 before calling it quits. Their love, however, would ultimately bring them back together.

"So this just happened!!!! Ahhhhh I'm so excited for my loves!! @maksimc and @petamurgatroyd it's about bloody time!!!!" fellow DWTS pro Sharna Burgess wrote on Instagram. "Congratulations you two!!! #iwishiwasthere #madeforeachother."