Liam Hemsworth put a 'ring on it,' but Miley Cyrus might be taking it off for good. The singer was spotted without her engagement ring yesterday, but is still insisting that her wedding is on. 

Liam, who is starring in The Hunger Games, was caught with January Jones recently and rumors have leaked out that the two might be more than 'just friends.'

On March 8, the New York Daily News reported that Miley removed her 3.5 carat diamond and, despite her denial, there seems to be trouble with the celebrity couple.

Liam left for Australia on March 1st, and a source told the Daily News Hemsworth and Cyrus needed a break, not a break-up, because the two had been fighting a lot recently. A couple continents away will give you the space you need, that's for sure.

The writing seems to have been on the wall for a few weeks now.

Cyrus and Hemsworth did not spend their Oscars evening together, and Hemsworth was seen partying with another blonde woman while Cyrus was in the recording studio with her assistant, Cheyene Thomas, the night before the Oscars.

Hemsworth was spotted leaving the Chateau Marmont in Los Angeles and was followed by January Jones, the woman he was supposidely spending time away from his fiancee with. 

Oscars weekend, Cyrus attended Elton John's Oscars party without Hemsworth sporting a backless white dress and her signature haircut. Her mother, Tish, accompained her to Elton's AIDS Foundation Academy Awards party. She was seen hanging with friend Kelly Osbourne.

But is the honeymoon phase over for Hemsworth and Cyrus? The couple may have been busy with work priorities, but still spent both Oscar weekend nights separated despite both being in LA.

Just a couple months ago, Cyrus told Cosmopolitan that she was extremely happy with her relationship with Liam, refering to him repeatedly as "hubby."

 "I'll literally look at him and [will] be like 'You are hot, dear god!"

"The other day, I turned on the pool heater and it was steaming, and he walked outside and took off his clothes and jumped in the pool. I was like, 'I'm gonna faint - the hottest guy of my life is in a steaming pool. This looks like a Playgirl shoot.'"