Paul McCartney proposed with $650,000 rock, no prenup

Days after it was announced that former Beatle

Sir Paul McCartney

is set to trot down the aisle with new fiancée

Nancy Shevell

, details begin to emerge about their impending nuptials.

More on the planned "small wedding" coming up. But first, let's have a butchers at that monster of an engagement ring Macca, 68, proposed to his squeeze of four years with.

Life & Style

magazine first clapped eyes on the glistening finger bling on Friday, and published a handy close-up for inquiring minds.

The exclusive pictures showed Shevell, 51, sporting a round-cut diamond ring on her finger - which reportedly set Macca back a whopping $650,000!

A snitch told the mag: "Nancy's ring is huge! You can tell she was excited to finally be showing it off.

"She was glowing and relaxed and looked like she couldn't be happier. She even gave a thumbs up when asked how her and Paul were doing. Clearly the couple is very happy," continued the source.

"Paul spent more than $650,000 on the gorgeous ring, and Nancy absolutely loves it!"

Who wouldn't. Have you seen the size of it? It's, as TMZ observes, the size of her knuckle.

Take a closer look

here

- now with improved zoom function.

No prenup

Despite a bad divorce (that's an euphemism for the most torturous and bitter divorce known to humanity) from ex-wife

Heather Mills

, McCartney (rumoured to be worth around £495 million) won't be asking his future missus to sign a pre-nuptial agreement.

According to the

Daily Mail

, McCartney's lawyers have drawn up a "simple" one-page document which stipulates that Shevell - a multi-millionaire in her own right - won't make a claim on his kids' trust funds should the marriage hit the skids.

"Nancy's father is richer than God," says a source on the absence of a pre-nup. "She really doesn't need his cash."

"Paul trusts Nancy implicitly. She is wealthy in her own right and certainly isn't after him for his money.

"There is no pre-nuptial agreement but Nancy told me they are having a simple one-page legal document drawn up, which she is more than happy to sign.

"It states that, in the event of a divorce, she will not make any claim on the trust funds of his children or grandchildren."

'They couldn't be closer...'

Sources say that Macca's relationship with Shevell is reminiscent of the one he shared with his first wife,

Linda

, who died of cancer at the age of 56 in 1998.

"When you spend time with them together it is clear they absolutely dote on each other. They couldn't be closer. The relationship is obviously for keeps and they are settled and happy," says one of McCartney's crowd.

Another friend adds: "The relationship between Paul and Nancy is already far better than the relationship with

Heather Mills

."

Macca and former model Mills (or Mucca as she was referred to in the tabloids) ended their marriage with a messy, expensive divorce in 2008. A drawn-out court battle saw Mills walk away with a cool £24.3 million settlement, and a trust fund for their daughter

Beatrice

.

"He and Heather were fighting like cat and dog even before they got married, while with Nancy it is all very calm, very happy, very chilled out.

"It's much more the like the low-key support he had from Linda. She is very quiet like Lin, and has that serenity, too."

Macca's children are also said to be close to Shevell and have given their blessing to the union.

His designer daughter

Stella

- who was widely rumoured to be an opponent of her father's marriage to Mills - is "thrilled for her father," a source tells

People

.

The wedding

It was reported over the weekend that the couple are expected to tie the knot in a small ceremony at Shevell's Hamptons home at the end of the British summer.

Bride-to-be Shevell has since piped up and said the nuptials will not be a lavish affair.

Asked about the plans by

New York Post

columnist

Cindy Adams

, she said: "It will be small. Just our families. I don't know the exact date.

"And don't ask what I'll wear because how dressy do you get to stand before a Justice of the Peace in his chambers, which is exactly what we're going to do."

Intimating the pair are heading for a civil ceremony, reports the

Mail

.

Shevell also revealed that McCartney's proposal came as "a total surprise." The music legend popped the question while the pair were in California.

And the ring? She described it as "vintage 1925 Cartier engagement solitaire diamond from Tate Galleries."

The date? "Soon," said Shevell, cryptically.

As for their future plans, Shevell said that although she'd like to remain in New York, the pair will probably end up living in England.

"I'd love to live here but it's probably England," she said. "I still have a job here so I'll commute once a month."

Meanwhile, Macca jetted off to Lima yesterday for the South America leg of his

Up and Coming

tour.

He's got four gigs on the cards - one in Peru, Chile and Brazil - before he heads off to North America to perform a final show in Las Vegas.

Shevell was set to join her fiancée on a later flight from New York last night.

A source told the

Mirror

: "This is a chance for the two to spend time together. She hasn't worn the ring before as she wasn't ready for the world to know. But the time has come and she now wants to show it off as much as possible."

Congratulations to them both!

Gaga's Edge

Lady Gaga

has dropped the third single from her much-anticipated third album,

Born This Way

.

The Edge of Glory

, co-written by Gaga,

Fernando Garibay

, and

DJ White Shadow

, debuted this morning.

"I'm on the edge of glory/ And hanging on a moment with you/ I'm on the edge with you," she purrs in the new track.

"I need a man who thinks it's right when it's so wrong. Tonight, yeah, baby, right on the limits/ Where we know where we both belong/ Tonight."

Yep, she's eschewed the

Judas

talk and moved on to romance.

So what's it all about? Gaga, who was inspired to write the track after the death of her grandfather in September, says it's "about your last moment on earth, the moment of truth, the moment before you leave earth."

Loving the sax solo (courtesy of

Clarence Clemons

of the E Street Band), Gaga.

Check out

The Edge of Glory

below:

What do you think of the track?

Blogger Bites Back

*

Read more celebrity news and gossip from Myrddin Gwynedd (MG)

here

.

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