LaToya Jackson is engaged to her longtime friend and business partner Jeffre Phillips. The 58-year-old sister to the late Michael Jackson announced the news on "Good Morning America." It was rumored for months that Jackson and Phillips were engaged. There were also claims that the two were already married.

Yes, I'm very much engaged... and it's wonderful," Jackson said.

According to E! News, Phillips popped the question with a massive 17.5-carat diamond ring which Jackson proudly showed off on "GMA." During a recent clip of "Life With LaToya," her reality show on the OWN Network, Phillips was seen asking Joe Jackson's permission to marry the TV personality.

"My father, mind you, he's a nice guy, but he's not the easiest person to talk to!" she said.

Jackson said she has not set a wedding date yet but did say that the two are thinking about adopting a baby.

"I've always wanted to be a mother, all my life," she said on "GMA."

If the 58-year-old does become a mother, Jackson already has a name picked out: Paris. According to E!, Jackson, her brother Michael and close friend Kathy Hilton all made a pact to name one of their kids Paris.

Hilton has a daughter named Paris Hilton and Michael held up his end of the deal and named his daughter Paris Jackson. The OWN reality star said that she did have a dog named Paris (and Prince) but would like to have a (human) baby with the name.

Last December a rumor surfaced that Jackson and Phillips were already married. At the time Radar Online reported that she had secretly wed Phillips in a private ceremony. The report said that Phillips had popped the question while the two were vacationing in Hawaii.

It was said that the proposal was captured on camera for her sow "Life with LaToya."