Kate Hudson oozed sex appeal when she glided down the Oscars red carpet Sunday.

The 34-year-old actress looked sensational in an Atelier Versace dress and Neil Lane jewels—and it caught quite a few peoples attention. "You can't avoid this dress," a blushing Ryan Seacrest told the Something Borrowed star on E! News. "I'm going to do everything I can to try to make eye contact."

But even Hudson's cleavage couldn't distract from the fact that her engagement ring was still M.I.A.

Five days earlier, at BVLGARI's Decades of Glamour event, Hudson also ditched her diamond sparkler. The ring removal comes amid widespread speculation that her relationship with Matthew Bellamy is on the rocks. "They are OK. They go through their ups and downs like every other couple," a source told E! News. "It's true that occasionally they don't spend as much time together as they would like—work pulls them apart from time to time. But they are working on strengthening their relationship."

Kate Hudson

Evan Agostini/Invision/AP

Engaged since the spring of 2011, Hudson and Bellamy are parents to son Bingham, 2. Reluctant Fundamentalist star Hudson is also mom to son on Ryder, 10, with rocker ex-husband Chris Robinson.

While neither star has publicly commented on the status of their engagement, hope isn't lost. "They are optimistic about the future and see that it will work out," the source said of the A-list couple, who met at the Coachella Valley Music and Arts Festival in 2010. "They don't think for a second that they won't get through this. They love one another very much and will do what it takes to make it work."

After the Oscars, Hudson changed into a cap-sleeve, black embroidered Zuhair Murad gown. Yet again, she opted to wear Neil Lane jewels in lieu of her engagement ring from Muse frontman Bellamy, 35.

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