Olivia Wilde and Jason Sudeikis are engaged!

According to People Magazine, the couple decided to take their relationship to the next level shortly after the holidays, and they could not be happier. A source close to the two revealed, "they are so excited, and very, very happy." We're so excited, too! The couple started dating in November 2011 and moved in together just last year.

We knew this was a match made in heaven when Wilde revealed at Glamour Magazine's These Girls Vagina Monologues in October 2012 that she was "blissfully, wildly in love." The event was attended by other leading ladies such as Rashida Jones and Alexa Chung, and Sudeikis was in the audience to support Olivia.

Who doesn't love a good happy ending? Now we just have to wait (with bated breath) to see the ring, and of course the eventual wedding gown. No word yet on a date for the nuptials.

Now we don't know about you, but lots of us have friends who also recently got engaged over the holidays, so we came up with some ideas of outfits for engagement parties. You're there to celebrate your friends, but that doesn't mean you can't look fabulous as well! Check out the list below to get some ideas!

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Photo Credit: Getty Images

What to Wear to an Engagement Party

What to Wear to an Engagement Party