Lea Michele – 2011 SAG Awards

Lea Michele is either ridiculously fashionable or ridiculously invested in paying a fabulous stylist.

At tonight’s SAG Awards, she hit it out of the fashion park once again in a plunging Oscar de la Renta embroidered gown, Sergio Rossi platforms and diamonds courtesy of Tiffany & Co.

But did anybody notice that nice piece of bling on her ENGAGEMENT finger?? Rumor Alert: You heard it hear first, socialites! Is Lea engaged to boyfriend, Theo Stockman or was the bling strategically placed for a PR frenzy?

Give us your thoughts, and check out all of our 2011 SAG Awards coverage here!