Singing sensation Rihanna and rapper boyfriend Chris Brown have set rumor mills abuzz after the  singer was seen flaunting an engagement ring during the Grammy Awards, Feb. 10.

There have also been reports that the couple might be getting married on New Year's Eve in Barbados, but nothing has been confirmed yet.

RiRi got cozy with Brown and had a big smile on her face all the while. The singer looked stunning dressed in a red floor sweeping gown, but all eyes were on her diamond ring, which she made no attempt to hide.

Fans immediately took to Twitter to express their views about the singer's possible engagement. "Rihanna engaged?!?! Or that's some type of promise ring?" tweeted a user according to nydailynews. "Really? Hope that's just an accessory," added another user.

Four years ago the on again couple had a fall out when Brown assaulted the "Umbrella" hit maker after the pre-Grammy party. RiRi's bruised face became a regular feature in tabloids and later Brown admitted to attacking the 24-year-old.

The couple reconciled last year after RiRi appeared on the "Oprah Winfrey Show" and spoke about her feelings for Brown. Since then she has often been slammed for patching up with the 23-year-old who beat her up. But the singer seems to have no regrets about it.

Talking to the Rolling Stone magazine, the singer said, "I decided it was more important for me to be happy, and I wasn't going to let anybody's opinion get in the way of that. Even if it's a mistake, it's my mistake."

RiRi also insisted that things have changed between the couple since the fateful night in 2009. She also admitted that she wanted to punish him for what he did even though she deeply loved him.

"I wanted him to know what it felt like to lose me. To feel the consequences of that. So when that (stuff) came back it hit me like a ton of bricks," she added. She is clear that a second chance to Brown does not mean that temper outbursts are acceptable.

"He doesn't have the luxury of f***ing up again. That's just not an option," she clarifies.