Iggy Azalea Engaged To Nick Young; Watch Proposal With $500,000 Ring

Jun 02, 2015 08:21 AM EDT

(Photo : Reuters) Iggy Azalea is engaged to Nick Young.

Iggy Azalea is engaged. Her basketball star boyfriend Nick Young proposed to her just two days after he told PEOPLE he had a "big surprise" planned for her.

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The special surprise was a proposal all along, and the Los Angeles Lakers player even did it on his birthday, giving all the attention to the 24-year-old rapper.

On Saturday, Young, 30, told PEOPLE that he wants to give Azalea something special for her birthday on the seventh. He added that there would "of course" be a wedding for them sometime in the future.

Nick Young, or as he is sometimes called, Swaggy P, went down the traditional route Monday night when he popped the question.

The basketball star surprised friends and fans to say the least, but everyone was nothing but supportive for the happy couple.

One of the guests at his party, Karen Civil, captured the moment via video, which she posted on Twitter.

In the video, which had also been posted on Instagram, Young is seen kneeling on one knee in front of a dazed Iggy.

Swaggy P celebrated his birthday tonight by popping the question to his girlfriend Iggy! pic.twitter.com/mF3W5eRau2

— Karεn Ciѵil (@KarenCivil) June 2, 2015

And the engagement ring is big, reported E! The 10.43-carat diamond ring has an estimated value of $500,000, according to The New York Daily News. "Nick was very involved in designing the ring," said famed jewelry designer Jason Arasheben in a press release. "We wanted it to be both a ring of Iggy's dreams and a ring that fits her personal style." The couple's close friend, "The Real" host Jeannie Mai, was also at the party. She was quick to share a photo following the proposal via Instagram. "She said YES!!! I just love that Nick used his bday party to propose to the love of his life. That face...," wrote Mai.