Miley Cyrus' Engagement Ring: Singer Still Holding on to 3.5 Carat Diamond

"It's up to her whether or not she wants to return it or keep it as a memento," a source tells E! News

Miley Cyrus may have said goodbye to fiancé Liam Hemsworth, but she's not ready to part ways with the 3.5-carat gold engagement ring he proposed with in May 2012.

A source tells E! News, "The ring has not been returned to the jeweler, Neil Lane," but adds that Miley's not necessarily under any pressure to give it back at all.

"Generally, the protocol is for the bride to keep the ring. It's up to her whether or not she wants to return it or keep it as a memento."

"My guess is, she'll hold onto it as a keepsake," the source continued. "Besides, it's such a recognizable ring. If you were a bride-to-be, would you want a ring with that kind of negative history associated with it?"

Estimated to be worth over $100,000, the bling was "hand-cut around 1880 or 1890," Neil Lane has said. "[Hemsworth] wanted something beautiful and unusual."

E! News learned last week that the Bangerz singer "hasn't decided" what she was going to do with the sparkler, but regardless, is "doing good" since the very public split from her beau of nearly four years.