By Staff Writer (media@latinospost.com) | First Posted: Aug 20, 2014 06:40 AM EDT

"Modern Family" star Sofia Vergara was recently seen sporting a huge sparkler on "that special finger," Hollywood Life reported. Could this mean the Latina actress and newfound love Joe Mangianello will be saying "I do" soon?

"On August 18, Sofia shocked us all by showing off a brand new (huge) ring," the entertainment news source observed. "Even though they have only been dating for a few short months, Sofia appears happier than ever, especially with her new sparkling ring!"

It can be recalled that Joe and Sofia got together shortly after she and former fiancee Nick Loeb broke their engagement. The hunky "Magic Mike" star was even caught in photographs checking the 41-year-old actress' rear out during a White House Correspondents Dinner in Washington DC back in May, where they first met, The Daily Mail noted.

"Yeah, I totally got busted. That was actually funny when we first started dating, months after that. We had talked I guess or kind of bumped into each other, but we didn't start dating until she was single," the 37-year-old actor was quoted as saying. "I mean she had a boyfriend at that time, so I probably could have got in a fight for doing that. I'm not trying to start a fight at the White House."

Nonetheless, it was clear that Joe was smitten from the get go. Could it have spurred him to keep close tabs on the Latina mogul so he could be the first one to pounce just in case she's back on the market? Whatever it is, he certainly did an impressive job, as he now has the Colombian star for a girlfriend so soon after she broke up with her on-and-off again businessman ex-boyfriend.

So, is the ring yet another signature fast move from the "True Blood" actor? Well, the answer is no, according to Jezebel.

"Sofia Vergara just has really good business acumen - the ring is from the line she designed for Kay Jewelers (it matches the necklace she's wearing, also from her line)," the site said.

Upon closer inspection, the necklace she wore on that day she was spotted with the sparkler did indeed match her ring.

"The ring is a purple topaz. She is loving her new Kay Jewelers line and this ring is from her collection," an insider close to Sofia revealed to Hollywood Life.

Okay, so it's a false alarm then. She sure knows how to generate publicity for her recent business venture! No wonder she's been named by Forbes as 2013's highest paid TV actress!