Could Steven Tyler be gearing up to walk down the aisle for the third time? Rumors are newly swirling that the 69-year-old rocker is engaged to his much-younger girlfriend, Aimee Preston, after she was spotted out wearing what looks like an engagement ring.

According to the Daily Mail, the couple — who have an astonishing 40-year age difference! — were last photographed on an afternoon date in LA on Tuesday, July 25. But, it was the pearl and gold ring Aimee, 28, was sporting on her left hand during the outing that sparked new rumors that the two could be ready to tie the knot.

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Though pearls aren’t typically used in engagement rings, modern brides have recently been adopting a new trend of selecting non-traditional precious gems for their rings. For example, Eva Longoria’s engagement ring from husband José Bastón includes a ruby center stone. And, of course, Duchess of Cambridge Kate Middleton proudly wears the late Princess Diana’s 12-carat sapphire engagement ring.

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Aimee showing off her rumored engagement ring from Steven. (Photo Credit: Getty Images)

This surprisingly isn’t the first time Steven and Aimee — who is the Aerosmith star’s longtime assistant — have sparked engagement rumors. Last December, Aimee hit the red carpet wearing the same pearl and gold bauble on her left hand. The couple previously began dating in 2014.

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If the duo are indeed getting hitched, this would be Steven’s third marriage and Aimee’s second. The rocker was married to Cyrinda Foxe from 1977 until 1987 and to Teresa Barrick from 1988 to 2006. He was also recently engaged to girlfriend Erin Brady, but the two called it quits in January 2013. Aimee was previously hitched to Hollywood talent agent Scott Shachter.

Interestingly, Aimee is more than a decade younger than Steven’s eldest child, daughter Liv Tyler, 40. The musician is also a father to daughter Mia Tyler, 38, daughter Chelsea Anna Tallarico, 28, and son Taj Monroe Tallarico, 26. Steven is additionally a grandfather-of-four. So, are Aimee and Steven really engaged? Only time will tell!