Even though Lady Antebellum leading lady Hillary Scott was seen sporting a diamond ring on her ring finger this past weekend at the ACMs, the chart-topping songstress insists she is not engaged ... yet.

"First of all, I’m not engaged, on the record," Scott tells reporters on the red carpet. "Whenever you wear fancy jewelry like this, you just put it on the finger that fits, and this is the finger it fit on."

Though, Scott can't blame anyone for assuming that she might be planning a wedding, considering that donning a ring on the left hand ring finger is the No. 1 tell-tale sign of an engagement. Even her bandmate Charles Kelley warned her about putting the ring on that particular finger. "I told her not to wear that. I told her it was going to start rumors," he says, laughing.

Even if it was unintentional, the ring could be a promising sign -- and wedding bells aren't too far fetched for Scott, who is dating (lucky) Nashville drummer Chris Tyrrell. "I’m not engaged yet," she insists.