The rumors are true! Justin Timberlake and Jessica Biel are officially engaged.

We gave you the buzz just before Christmas that the on-again-off-again pair were rumored to have made a hefty commitment, but according to US Weekly, several insiders have since confirmed the good news. Based on their reports, Justin allegedly asked Jessica to be his wife at the end of December, which is when talk of their engagement first made headlines.

Justin popped the big question to his girlfriend of four years in Jackson, Wyoming, which he knew would be a special place for his lady. "Justin knows how much she loves snowboarding and the mountains, so it was the perfect place," a source said.

The world hurt for the couple when in 2011, they decided to call it quits on their relationship ... Only to reunite again after three months, which is when Jessica apparently told her former boybander that it was time to put a ring on it, or as the source reports, "When they reunited, they had a conversation about taking the next step."

It seems Miss Biel (soon to be Mrs. Timberlake) was right on the money by putting it on the line -- Justin too "knew it was the right time to propose."