Speaking on The Ellen DeGeneres Show on Thursday's episode, the 23-year-old singer confessed that Liam's 3.5-carat Neil Lane diamond ring wasn't really her "aesthetic".
"But I'll wear it because you love me," she noted when Ellen wished her congratulations on the engagement.
Miley Cyrus has admitted she doesn't like Liam Hemsworth's engagement ring
Ellen then joked that the Hunger Games actor "could have saved a lot of money" by giving her a ring made out of sweets, something Miley would have preferred. However, the pop star said she will continue to wear the gold vintage item.
The Hollywood couple – who met in 2009 before breaking their off their engagement four years later – have been spending a lot of time together again, often taking to social media sites to share snippets of their personal lives. Rumours of a reconciliation began swirling at the end of last year, when Miley and Liam were spotted in Australia together on New Year's Eve.
"But I'll wear it because you love me," she noted
During an interview with GQ Australia in June, Liam opened up about their on/off relationship, claiming their two-year break was down to being "too young".
"Of course it was hard," he confessed. "But at the time we were both going in different directions and it's just what needed to happen. We were both super young and it was a good decision at the time – we both needed that."
"I don't read or listen to the press," he continued. "And these days I don't base my decisions on it at all. I base all my decisions on what's happening in front of me and I'm much happier by doing that. I guess when I feel something, then I just feel it and go for it."