Ashlee Simpson & Pete Wentz Engaged

(CBS) Singer-actress Ashlee Simpson and Fall Out Boy bassist Pete Wentz are engaged, her rep confirms to "The Insider".

"We know there has been a lot of speculation recently about Pete and I and we wanted our fans to be the first to know, because you guys are the best," Simpson said in a statement posted on the networking Web site where Wentz has a VIP page. "Yes, we are thrilled to share that we are happily engaged. Thank you for all of your support and well wishes - it means the world to us. We consider this to be a very private matter, and we wanted to be the first to tell you and to hear it straight from us."

Simpson, 23, and Wentz, 28, have reportedly been an item since fall of 2006.

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