A photo posted by Miley Cyrus (@mileycyrus) on

In case you've been living under a rock, Miley Cyrus and her ex fiancé (that maybe isn't so ex anymore?) have been hanging out again recently, after she was spotted with him in Australia for New Year's celebrations. Fast forward to a few weeks later, and Miley was spotted with a very familiar looking ring on THAT finger in one of her Instagram photos.

Of course, no one knows what this ACTUALLY means ... YET. Her caption of the photo was simply, "I look like a f***ing strawberry," with a few hashtags. But we doubt anyone was looking at anything else in the photo except for the ring, prominently featured on her hand. She was also spotted at JFK airport in New York City this weekend wearing the same ring (pictured below).

Miley Cyrus

So are they not only back on, but engaged again? Or are they not? Neither Miley or Liam has commented at all about the possible reconciliation. However in the fall of 2015, Liam did touch on his ex in an interview with Men's Fitness. He said:

"We were together five years, so I don’t think those feelings will ever change. And that’s good because that proves to me that it was real. It wasn’t just a fling. It really was an important part of my life and always will be."

One thing is for sure, the Smilers are going crazy on Instagram, hoping this means the two are back on. Below, on the left, is a photo of Miley's ring in 2012, and on the right is her most recent Instagram shot.

miley ring

Photos: Getty Images