Sean Penn and Charlize Theron are not engaged, in spite of all the rumors that have been making the rounds.

Speculation that Sean Penn and Charlize Theron are engaged started early this week when Charlize was seen wearing a ring on her engagement finger at LAX.

Sean and Charlize have only been dating for about eight months but they are being rushed to the altar by the media.

Charlize Theron, 38, was photographed wearing a large Anita Ko Leaf diamond ring in 18k yellow gold that is reportedly valued at $4,900 at Los Angeles International Airport, on Wednesday, July  23 and the media jumped to the conclusion that her 53-year-old boyfriend popped the question.

But Sean didn't buy the ring. Charlize did.

But just because this ring didn't come from Sean, doesn't mean the wedding rumors aren't true.

Us Weekly quoted an insider who said "They want to get married very soon. Sean is revitalized with Charlize."

Charlize recently hinted to Vogue magazine that "A friend kind of stepped into that [romantic] role, and I really didn't see it coming. We were just really good friends. And it's been slow going because you are aware that you could screw that up and lose it. We had to think about it. But at the end of the day, it was somewhat effortless."

New reports suggest that Charlize hopes to adopt a child with Sean shortly after they get married.

A source told Us Weekly ''Charlize always intended to have another child.''

Charlize has a two-year-old adopted son, Jackson. Sean has a 23-year-old daughter, Dylan, and a 20-year-old son, Hopper, with his ex-wife Robin Wright.

If Theron and Penn do get married it will be Sean's third marriage and Charlize's first. Penn married to Madonna in the late '80s. Sean split with his second wife, Robin Wright in April 2009.