Iggy Azalea and LA Lakers player Nick 'Swaggy P' Young are officially engaged!

Young got down on one knee and popped the question during his 30th birthday celebrations on Monday.  The Australian rapper of course responded 'Yes!'.

The proposal was caught on camera by a friend who posted it on Twitter.

The couple have been dating since 2013 and during an appearance on 105.1's The Breakfast Club back in April 2014, Azalea explained how their first date was at Target!

"I was like 'Target is my favorite place! I want to go to Target,' so I made him [go]. You can learn so much about someone at Target. You can really get to know someone at Target, like what kind of quilts are you into, whats' your favorite movies? What kind of snacks do you like?"

Well it obviously went ok as the cute couple went from strength to strength—Young posted a pic to his Instagram of him and his fiancée, 24, sharing a kiss saying;

"She said yes.  It's over man.  I'm getting married!"

The photo shows Iggy's huge 10.43 carat diamond ring, worth an estimated $500,000 which she later flashed close up on Instagram.

The news should certainly cheer them both up as their careers have taken a bit of a downturn recently.  It was revealed this week that Iggy's previously delayed 'Great Escape Tour' has been canceled, and Nick's Lakers team have had a poor season with only 21 wins and finishing 5th in the NBA Pacific Division.