Miley Cyrus Leaving Barney’s in Beverly Hills

A few hours after the news of Miley and Liam’s engagement broke, the paparazzi spotted her leaving Barney’s in Beverly Hills (June 6). More pics HERE.

Miley was pictured on location for a photoshoot in Malibu with Tish and Jen (June 6). It was reported last week that Miley will be covering the September issue of Marie Claire. More pics HERE.

After a long day of shooting for Marie Claire, Miley was spotted dining at Hugo’s with a few friends on Wednesday (June 6). Miley hid her engagement ring as she made her way into the restaurant. More pics HERE.

ALSO, Miley’s “very adult and sexy” new album will come before wedding to Liam Hemsworth:

Miley Cyrus has a wedding to plan, but that doesn’t mean she’s taking a break from her career!

A source tells E! News that the engaged star has been quietly working on her next studio album, which is going to be “very adult and sexy and believable.”

The insider adds that the album will “one hundred percent” come out before she and Liam Hemsworth say “I do.” But Cyrus certainly isn’t forsaking her hot Aussie beau. In fact, the former Disney star is “on her way” to New Orleans to reunite with Hemsworth later this week, a source says.

Hemsworth, 22, is in the Big Easy working on the set of Empire State. Cyrus,19, is planning to spend the week “enjoying her man,” according to sources.

We have a feeling, though, that she won’t be relaxing with Hemsworth for too long. An insider says Cyrus is “having fun making music” for “the first time in her career.”

“We are watching a young girl turn into a young woman,” adds the source. Cyrus is working with various record producers, including Pharrell Williams in Miami and L.A.-based Hit-Boy, who has produced for the likes of Kanye West, Jay-Z and Eminem.

The ex-Hannah Montana star’s engagement is just one piece of her maturation puzzle. Another was her decision earlier this year to part ways with her longtime manager from her Disney days and sign up with veteran music manager Bruce Flohr of Red Light Management. Flohr has worked with artists such as Dave Matthews Band and Foo Fighters and is helping Cyrus cultivate her new sound in studio sessions that an industry source is calling “Miley 2.0.”

Miley Cyrus, Liam Hemsworth Are Engaged

Wedding Party in the U.S.A.!

Miley Cyrus and Hunger Games star Liam Hemsworth are engaged to be married after three years of dating, their reps confirm to PEOPLE exclusively.

“I’m so happy to be engaged and look forward to a life of happiness with Liam,” Cyrus, 19, tells PEOPLE.

Australian actor Hemsworth, 22, who met Cyrus when they costarred in The Last Song in 2009, proposed on May 31 with a 3.5-carat diamond ring from jeweler Neil Lane.

Next up for the couple: Cyrus is in the studio working on a new album, while Hemsworth is currently filming Empire State in New Orleans. He’ll also shoot Paranoia with Harrison Ford and Gary Oldman before beginning production on the second Hunger Games installment.

For more on Cyrus and Hemsworth’s engagement, including what their families think – and to see a photo of Cyrus’s ring – pick up this week’s issue of PEOPLE, on newsstands Friday

ALSO, all the details on Miley Cyrus’s 3.5-Carat engagement ring:

When Liam Hemsworth approached celebrity jeweler Neil Lane to create an engagement ring for Miley Cyrus, he wanted “something unusual,” Lane tells PEOPLE exclusively. “Something really beautiful and romantic.”

What The Hunger Games star got was a 3.5-carat cushion-cut diamond ring, handcrafted in 18-karat gold with intricately carved diamond floral motifs in an art nouveau pattern. And the center stone is extra special: it’s an antique dating back to the late 19th century.

“It was hand-cut around 1880 or 1890 and it’s unique and in its original form,” Lane says. “At that time no two diamonds were alike, as they were all hand-cut, so it’s fascinating to look at because it hasn’t been re-cut to look contemporary over the years. I find that really romantic.”

Lane sculpted the gold setting to fit the shape of the diamond, and set smaller diamonds in the gold to highlight the main stone. “It’s a contemporary design based on vintage aesthetics,” he says. “The light flashes and sparkles no matter where Miley moves her hand.”

Hemsworth was happy with the final result; Lane says the two “worked back and forth and it’s everything he was looking for.” Finished just last week, it was all ready for Hemsworth’s May 31 proposal (the news of which was shared exclusively by Cyrus with PEOPLE).

For her part, Cyrus seems to be pleased, too; the starlet Tweeted Wednesday, “Thank you for all the love today. I’m happy to share this news with you all. I feel like all my dreams are coming true.”