Hailey Baldwin Shows Off MASSIVE $2 Million Engagement Ring

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Although you probably thought Justin Bieber and Hailey Baldwin‘s engagement was a sudden, rash decision, it’s pretty clear that the 24-year-old was planning it for a while. How do we know? Oh, ya know, just ’cause he gave her a MASSIVE diamond ring that obviously took some time to obtain.

When JB got down on one knee and proposed to the model in the Bahamas on Saturday night, he presented her with a custom oval-shaped diamond situation on two diamond-encrusted bands, which reportedly cost him about $2 million.

The rock is actually pretty similar to Blake Lively‘s engagement ring from husband Ryan Reynolds, which is interesting because the 21-year-old has been a fan of the actress’ for years now.

Back in 2012, she retweeted a note that said, “If my ring isn’t as big as Blake Lively’s, I don’t want to get married. #singleprob”

The “Friends” crooner was allegedly planning to propose to Hailey for a while, which is why he had time to get the ring customized.

“It’s kind of a surprise, but kind of not,” a source tells PEOPLE of The Biebs’ proposal. “Justin has been extremely happy these past few weeks. He has known Hailey for a long time. This might seem sudden, but they know each other very well.”

Say what you want about Jailey’s engagement, but you have to admit Justin has great taste in jewelry.