Rick Ross Brings Big Laughs, Bigger Diamonds to 'TMZ Live'

Rick Ross crashed "TMZ Live" today with enough diamonds to light up the studio ... and enough jokes to keep "Hervis" on the ropes.

Watch the antics, they're hilarious ... Rozay stopped by to chat about his upcoming "Port of Miami" 20th anniversary tour, but before the conversation could get too serious, he was already calling Harvey "Hervis" -- a nickname Rick has long reserved just for our fearless leader.

Harvey fired right back, giving Rick grief over the tour's dress code -- and from there, the interview turned into one long laugh ... with lots of bling.

Rick kept the energy rolling by letting Harvey and Charles try on some of his massive diamond rings -- prompting both to joke they might "accidentally" walk off with them. Between admiring the ice and Rick playfully chanting "bling bling," the trio spent just as much time cracking up as they did talking music.

Speaking of business ... Rick also plugged his new album, "Set in Stone," dropping July 17, and teased where things stand with Drake. He wouldn't say whether the beef is officially over ... instead flashing a grin and throwing up a playful boxer's stance that suggested fans will have to wait for the next round.