LaToya Jackson, Jeffre Phillips Engaged: LaToya Talks About 17.5 Carat Ring, Adopting Children, And Naming Baby Paris After Pacts With Michael Jackson

Singer LaToya Jackson has announced that she her business partner and best friend, Jeffre Phillips are engaged!

The new reality star flaunted her shiny 17.5 carat diamond ring on Good Morning America with a smile from ear-to-ear confirming her exciting news, "Yes, I am. I'm engaged. And I'm excited about it. Yes, I'm very much engaged ... And it's wonderful."

The 58-year-old said that she plans on adopting after her nuptials with Phillips and may name her son or daughter Paris after making a pact with her late brother Michael Jackson and Kathy Hilton (mother of Paris Hilton).

"Kathy was first," she said, "And then, of course, Michael had his Paris, and I still don't have children. And I named my dog - my first dog was named Paris and then Prince."

She added that it's not certain if the pact would be completed, but she's still debating on the potential name, "I don't know just yet for sure, but I have to wait and see."