230gomezbeiber112011_01_X17.jpgFalse alarm!

After Selena Gomez was spotted wearing a diamond sparkler on her left ring finger Wednesday, rumors began to swirl that beau Justin Bieber suddenly popped the question.

But Gomez's rep quickly shot down reports, telling US Weekly, "She is not engaged."

The Biebes, who's just 17-years-old, did reveal that he plans to get married rather young, telling Women's Wear Daily in a recent interview:

    "By 25 or 26, I want to see myself, like, married or start looking for a family. I want to be a young dad. I want to be able to have done what I wanted to do -- to be successful, to do a movie or whatever. But if the time is right, I definitely want to be married by 25. One thing -- I'm not looking to get married now."

The young pop stars are currently in Cabo San Lucas, Mexico where Gomez will serve as a bridesmaid -- and wedding singer! -- for Wizards of Waverly Place, costume designer Shannon Larossi, according to reports.

Justin and Selena have been an item since December 2010, but didn't go public with their relationship until May.