That's Not an Engagement Ring on Ashlee's Finger

We were so distracted by Ashlee and Pete's cute kissy time that we didn't even notice the ring she was sporting on her left hand at her NYE party on Monday night. Her engagement ring finger was still occupied yesterday as she and Pete did some shopping around Miami, but don't start envisioning their hipster wedding just yet. Both Ashlee's and Pete's reps have already denied that the couple is engaged. These two definitely seemed to be all loved up these days, but knowing how fickle Pete can be, we're glad they're waiting a bit before diving into marriage vows.