Jimmy Iovine, Liberty Ross Wedding Ceremony in Malibu

EXCLUSIVE

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Jimmy Iovine and Liberty Ross got hitched this weekend and everything went flawlessly ... except the skywriting plane screwed up royally!

Check out the pic ... the writing in the sky reads "J  M."  When you don't first succeed you do it again, which the pilot did the second time around. 

The shindig went down Saturday on the sand at their beachside home in Malibu. We're told around 50 friends and family members watched as Jimmy and Liberty exchange vows. The big party is tonight.

37-year-old Liberty walked barefoot down to the water's edge, where she threw a gigantic garland into the Pacific. 

62-year-old Jimmy is one of the most successful and richest people in show biz. He co-founded Interscope Records, as well as Beats by Dr. Dre which sold for $3 billion.

It's Liberty's second marriage ... she was married to Rupert Sanders and has 2 kids with him. Jimmy has 4 kids with his ex-wife.