Are Nicki Minaj and Meek Mill engaged? There is a lot of speculation that the couple has taken the next step in their relationship after the "Anaconda" singer took to Instagram on Wednesday to show off a huge diamond ring given to her by Mill.

"Now this is what I'm talking about baby," Minaj captioned a picture of the huge rock, according to Just Jared. "Lol. Love u @meekmill," she added.

In the following post, she shared another picture of the ring. "This stone is flawless. (My voice) lol," she wrote.

This isn't the first time Minaj's Instagram post has sparked engagement rumors. Earlier this year, the rapper posted a photo of a giant yellow heart-shaped ring on her left finger captioned with a slew of emojis on the image-sharing platform.

That post fueled speculation that the couple were engaged but Mill denied the rumors the following month. "(Our relationship) is definitely real, but it ain't really time to get married yet," he said at the time, as HNGN previously reported. "We're still learning each other, feeling each other out."