Despite reports that Britney Spears and her longtime agent Jason Trawick are preparing to walk down the aisle, a source told Usmagazine.com that the rumors are utterly bogus.

“This is absolutely not true. Britney is not engaged,” the source revealed.

Star reports on its cover that Jason proposed while the two were vacationing in the Bahamas last month.

An insider told the tabloid: “He didn’t exactly get down on one knee, but Brit didn’t care. She said yes, and they opened a bottle of champagne to celebrate. Jason held Britney for a long time and kissed her cheeks. They talked about their future for hours and didn’t go to sleep until after 3 a.m.! They just wanted to be alone together.”

Britney is currently on tour in Europe.