Lady Gaga made the surprise announcement during an emotional speech that her boyfriend Christian Carino has popped the question.

Christian Carino apparently spent up to a whopping $400,000 on the ring, according to reports this morning.

"Lady Gaga's spectacular ring appears to be a 6-7 carat pink sapphire with a diamond halo totaling 3-4 carats. This is likely a high quality, no heat (treatment), pink sapphire," President of WP Diamonds, Andrew Brown told E! News.

"It looks like it may be a Padparadscha sapphire, in which case this ring would easily retail between $300,000 and $400,000."

Confirming the news at Elle’s 25th Annual Women in Hollywood Celebration in LA, Lady Gaga said: "Thank you to all the loved ones in my life. [Manager] Bobby [Campbell], I love you. Everyone at table five.

"My fiancé, Christian. All the loved ones in my life who takes care of me every day.

"And Ryan Murphy, thanks for giving me my first leading role [in American Horror Story: Hotel]. You know that Golden Globe belongs to you."

It's been a whirlwind romance for the happy couple who only started dating in 2017. Lady Gaga was first seen in public with the 49-year-old Christian at a Kings of Leon gig last year.

Entertainment Tonight reported that Lady Gaga originally wanted her engagement to Carino to be “low-key”.

“Gaga seems very happy to be in a more low-key relationship than with Taylor. “She’s on top of the world and Christian is part of that. They kept the engagement private so it wasn’t the media storm it was with Taylor," a source told Entertainment Tonight

In a previous interview with the New York Post, Lady Gaga spoke about being in love with Christian, saying: "When I went backstage [during her Joanne World Tour in New York], Christian was by the stairs making sure I was okay. The best part about being in love with someone is having them there to catch you if you fall."

Lady Gaga was previously engaged to Chicago Fire actor Taylor Kinney. The two met while shooting the music video for her song You and I, but broke up in July 2016 after being together for five years.

Watch part of Lady Gaga's POWERFUL speech at ELLE's Women in Hollywood as she opened up about her sexual assault, mental illness, and a plea for women to lift up each other up.

Full speech: https://t.co/nNJ1BkSscX pic.twitter.com/xxVXRg4hd6

— Lady Gaga Media ⭐️ (@GagaMediaDotNet) October 16, 2018