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Breaking: LiLo Engaged? Not So Fast

Is the new, improved, soberiffic Lindsay Lohan already off the market? 

OK! magazine is shouting from the hilltops that the soon-to-be Dare to Love Me star has said yes to a marriage proposal from boyfriend Riley "KFed 2.0" Giles.

"She fell hard for Riley, they have a lot in common, and Lindsay's starting her life over. Rehab was her wakeup call, and she wants someone she can relate to, as opposed to sleeping with the latest hot guy in Hollywood," a source tells the tab.

The "insider" also says the proposal took place in Cirque Lodge, the Sundance rehab facility where Lohan and Giles were both receiving treatment.

Alas, we have confirmed, the betrothal is a no-go. 

"It's completely untrue," Lohan's publicist Leslie Sloane Zelnick confirms to E! News.

Lindsay Lohan, Michael Lohan Chris Weeks/WireImage.com, John Sciulli/WireImage.com

In regards to speculation that Lohan was rocking an engagement ring, Planet Gossip's Marc Malkin has confirmed there are two rings in play. One is a sparkler from Cartier, and she has owned it for quite some time.

The other was a gift from dear dad Michael—remember, recently, when he was spotted shopping for a diamond for his little girl, and everyone thought he was getting hitched?

Maybe OK! could have dug a little deeper...ya think?

"This is ridiculous," Zelnick said to Malkin. "She is not engaged." 

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