Jewellery bosses at Jacob & Co have confirmed they designed the $2.5 million ring actor/rapper Nick Cannon gave to flame Mariah Carey, after Entertainmentwise reported about the couple’s rumoured wedding earlier today.

Denying reports the 17-carat platinum and pink diamond engagement ring was the same one Cannon gave to former fiancee Selita Ebanks last year, a company spokesman reveals the bauble was designed recently for Carey.

It features 58 intense pink diamonds and two half-moon diamonds on each side, according to In Touch magazine.

Reports suggest Carey has eloped with Cannon, who at 27 is 11 years younger than the pop diva.

The couple wed during a small: "very impulsive" wedding ceremony in the Bahamas, according to internet reports.