Katie Holmes stepped out in New Orleans on Wednesday wearing a weighty diamond ring on her left pinky finger.

Katie Holmes
Credit: Splash News

Oooh. Ahhh.

Immediately, our celebrity-obsessed minds flocked to one thing: ENGAGEMENT. Does this mean she and Jamie Foxx will begin making public appearances together? Will Katie announce the news on Instagram? Will Suri be a flower girl??

Just as we started brainstorming wedding hashtags, our dreams were dashed: Katie’s not engaged — at least, not to Jamie.

Clive Davis and Recording Academy Pre-GRAMMY Gala - Inside
Credit: Kevin Mazur/Getty Images

The actress is currently on location, filming the movie adaptation of self-help book The Secret — and it turns out that ring was simply a prop.

Holmes’s rep told People that “Katie’s not engaged to anyone besides her fictional movie fiancé, played by Jerry O’Connell.”

OK, fine, we believe it — but it doesn’t explain what Katie’s looking at on her phone that is so clearly delightful. Our guess? Jamie’s sending her hilarious wedding hashtag ideas for their secret ceremony in Tahiti next spring. #HolmesAtLast? #LadyAndTheFoxx? OK, I hope he’s better at it than I am.