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According to The Daily Bullsheet:

SIMON IN LOVE, NOT NECESSARILY ENGAGED!

Simon Cowell has yet to confirm rumors that he proposed to girlfriend Mezhgan Hussainy on Valentine’s Day, but he sure sounds like a man in love. The American Idol judge recently admitted in an interview, “I’m smitten with Mezhgan  – I think she’s the one. She’s very special.” Photographers caught Mezhgan showing off her Valentine’s Day gift from Simon, a huge diamond sparkler, but friends insist it isn’t an engagement ring. A source tells The Mail, “It was just a gift…He wanted to do something special, but Simon is definitely not engaged.”  And while marriage may not be in Simon’s near future, it appears he’s already thinking about starting a family with Mezhgan. He told the ITV1 show Life Stories, “I think I need to have little Simons around.”