Update!

Nicole Richie, Joel Madden Break Engagement News to Letterman

Couple decide it's time to tie the knot after three years and two kids together; Nicole spills the beans on Late Show

By Marcus Errico Feb 16, 2010 2:11 PMTags
Nicole Richie, Joel MaddenJeff Vespa/Getty Images

This just in from the Better Late Than Never Department: Nicole Richie and Joel Madden are engaged.

Capping a Valentine's weekend in style, Richie announced during Monday's taping of the Late Show With David Letterman that, after three years of courtship, two children and one confused lawyer, she and her rocking beau are finally ready to walk down the aisle.

The Late Show episode is set to air on Friday. There was no immediate comment from their rep, but Joel has taken the liberty of confirming the good, albeit not-so-recent news via Twitter.

"Yep. I'm engaged. Very happy. Yeah we've been engaged for awhile so your all kind of late on that. But Thanks for the hooplah all the same," he says. "P.s. thats why i love my family and friends. None of them are sources. All good tight lipped people who let us enjoy it. Thanks everybody!"

Richie, 28, and Madden, 30, have been planning their wedding before the birth of daughter Harlow in 2007. Apparently, with the birth of son Sparrow last September, the couple figured it was time to ramp things up.

(Originally published Feb. 15, 2010, at 7:33 p.m. PT)

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Time to add Nicole and Joel to our Celeb Weddings We Can't Wait For gallery.