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Us is reporting that the Hot Fox is now single again! She and her fiance of over two years, Brian Austin, have called of their engagement.

Even though they were smiling on Valentine's day, they haven't seen happy in quite a while.

In the past few months we've seen Brian freak out on the paps at the mall while an unhappy Megan looked on, Megan telling an interviewer on the Golden Globes red carpet that her fiance opted to stay home and "play with his music" rather than escort her to the event and watched as Brian only protected himself from the rain with his umbrella, leaving Megan all-wet.

A source tells the mag, "The relationship had run its course. They both realized the time had come to go their separate ways. It's completely amicable, and they are remaining friends."

The only thing putting a damper on our joy that she's finally rid of him is the realization that we'll have to compete for men with the hottest woman in Hollywood!