Ashlee Simpson and Pete Wentz engaged

Washington, April 10 : After two years of dating and much speculation about their relationship, Ashlee Simpson and Pete Wentz are finally engaged.

The couple, who began dating in late 2006, announced their engagement on April 9 in a statement posted on friendsorenemies.com.

"We know there has been a lot of speculation recently about Pete and I, and we wanted our fans to be the first to know, because you guys are the best. Yes, we are thrilled to share that we are happily engaged," Usmagazine.com quoted Simpson, as stating.

A source has revealed that the couple is extremely thrilled and will tie the knot soon.

"They are ecstatic and can't wait to be man and wife. They will be getting married before the end of the year," a source said.

ANI