The "Roar" crooner stepped out with her beau for a romantic Valentine's Day dinner at Sunset Towers in Los Angeles Friday night, flashing a ring on that finger.
After grabbing a bite to eat, the couple headed over to the back room of Bootsy Bellows club in West Hollywood, Calif., a source tells E! News.
In spite of Perry's rumor-sparking accessory though, a source tells E! News Mayer has not popped the question (just yet).
"They are really happy. They had the most amazing date night. They had a private booth at Bootsy Bellows and were very happy just to be together," the source said. "They were taking pics of one another and are head over heels. After a while, they had some friends join them and they spent the rest of the night dancing. They left as the club was closing."
While the duo has stayed mum on their respective social networking sites about their Valentine's Day plans, Mayer tweeted out a little spin on Jay Z's "Public Service Announcement" for his gal Friday, writing, "I got the hottest girl in the game Pick in' my brain."
And that was about it.
"Congrats to all the #samelove couples tonight. You had me in tears of joy for y'all!" the pop star wrote on Instagram—showing a close-up photo of herself holding up a bunch of white roses. "Also... Look who caught the bouquet!!! #okuuuurrrr."