Nick Cannon Proposes -- for Real This Time!

5/8/2007 12:26 PM PDT

Nick Cannon Proposes -- for Real This Time!

MTV kingpin Nick Cannon rocked the world of his longtime girlfriend, Victoria's Secret model Selita Ebanks -- by busting out a HUGE 12 carat rock, and asking for her blinged-out hand in marriage. Obviously, she obliged.

The couple, who attended the Metropolitan Museum of Art Costume Institute Gala, were ferried to Times Square in a Rolls Royce Phantom (natch). But the real exercise in extravagance didn't begin until the words, "Selita will you marry me?" lit up on the giant Jumbotron in the Square. Nothing says "I love you" like a two-story electronic proposal! Cannon then whipped out the hardware (the ring) and sealed the deal!

The happy couple then went to NYC hotspot Butter to celebrate. Cannon surprised his new fiancee by flying in her parents and best friends. Then Nick and Selita left their impromptu engagement party to catch a private plane back to L.A. so Nick could be back at work Tuesday morning.

Rumors had been circulating that the two had been secretly married back in February, apparently, she was waiting for a proper proposal ... and got one!