updated 05/31/2013 AT 11:00 AM ET
•originally published 05/31/2013 AT 9:00 AM ET
Until now. She’s been wearing the ring consistently the past few weeks and is even flashing it, as shown here during a video shoot in L.A. Thursday.
Hemsworth, 23, and Cyrus, 20, “are still living together but have no wedding plans,” a source tells PEOPLE. “They still need to work on their relationship, but after they decided to postpone the wedding, they are doing better. They feel less stress and less pressure now. Miley can focus on her music.”
She announced at the Billboard Music Awards that her new single, “We Can’t Stop,” will debut June 3.
Cyrus had been photographed sometimes with and other times without the ring in the past few months. The vanishing and re-appearing act was taking place even before the couple’s wedding was postponed amid talk that they had split.
As PEOPLE reported exclusively, Hemsworth approached celebrity jeweler Neil Lane to create a ring for Cyrus to mark their engagement, he wanted “something unusual,” said Lane. “Something really beautiful and romantic.”
The result: a 3.5-carat cushion-cut diamond ring, handcrafted in 18-karat gold with intricately carved diamond floral motifs in an art nouveau pattern. And the center stone is extra special: it’s an antique dating back to the late 19th century.
“It was hand-cut around 1880 or 1890 and it’s unique and in its original form,” according to Lane. “At that time no two diamonds were alike, as they were all hand-cut, so it’s fascinating to look at because it hasn t been re-cut to look contemporary over the years. I find that really romantic.”