Iggy Azalea is warming up to French Montana ... with a little bit of ice.
Iggy posted a pic of her fingers enveloped in 7 diamond bands.
Iggy captioned the pic, "He told me pressure makes diamonds," and tagged the rapper and his jeweler, Iceman Nick.
Iggy's played coy up to this point, calling French a "friend," despite their makeout trip to Mexico a few weeks back ... but diamonds clearly make it official.
She had to return the engagement ring she got from Nick Young, but doesn't seem like she's hurting in the carat department.