Miley Cyrus Shows Off Engagement Ring Amidst Breakup Rumors

The 'We Can't Stop' singer flashes big smile as she flaunts her diamond rock during a video shoot in Los Angeles

Miley Cyrus let action do the talking. While remaining mum on the latest rumor that she and fiance Liam Hemsworth broke up, the daughter of country music crooner Billy Ray Cyrus flashed her Neil Lane ring to pour cold water on the breakup report.

Miley showed off her 3.5-carat cushion-cut diamond ring during a video shoot in Los Angeles Thursday, May 30. Showing off her toned midriff in a white tank top, the former "Hannah Montana" actress was all smiles as she hit the set with a couple of pals.

They "are still living together but have no wedding plans," a source tells PEOPLE. "They still need to work on their relationship, but after they decided to postpone the wedding, they are doing better. They feel less stress and less pressure now. Miley can focus on her music."