Miley Cyrus and Liam Hemsworth: 'Hunger Games' Star Tells Singer to Keep Engagement Ring?

Liam Hemsworth has told ex-fiancee Miley Cyrus can keep the engagement ring he gave her, Radar Online reported Wednesday.

A source close to the former couple told the site that Hemsworth was not asking for the Neil Lane designed sparkler which was a hand-cut vintage diamond from the 1890′s. It was 3.5 carats. Allegedly, Hemsworth wanted Cyrus to have a reminder of their relationship which lasted four years.

"[He] wants Miley to keep the ring. He wouldn't ask for it back. Liam told Miley to keep it and do with it what she wanted. He told her to keep it as a memento of their love affair," a source said.

The source went on to add that at the time he gave Cyrus the ring in 2012, he was completely sincere about spending the rest of his life with her. However, he has had time to reflect on the decision to propose marriage at this point in their lives.

"When Liam bought that ring, he truly believed he would be spending the rest of his life with her. Now he realizes they are both just too young to be ready for such a big commitment," the source said.

On Monday, representatives for Cyrus and Hemsworth announced that the couple had split.