Jessica Biel: Showing Off Justin Timberlake's Engagement Ring?

Jessica Biel and Justin Timberlake in 2011

Bennett Raglin/Getty

Jessica Biel flaunted a very special accessory while out celebrating in New York City Saturday night.

More than a month since news broke of her engagement to Justin Timberlake, the actress was spotted wearing what appeared to be her engagement ring and getting cozy with her man at a Saturday Night Live after-party.

This would mark the first time Biel went out in public with her sparkler never mind a rare public display of affection for the couple who don't often step out together.

Biel, 29, and Timberlake, 31, "were very lovey all night and kissed a few times," a guest at the Ristorante Asellina party tells PEOPLE.

The couple, who started dating in 2007, celebrated Timberlake's appearance on SNL as Grammy-winning folk sensation Bon Iver with guests such as Evan Rachel Wood and rumored fianc Jamie Bell, Sports Illustrated cover girl Kate Upton, David Alan Grier, Seth Meyers, Chlo Sevigny, Natasha Lyonne, Andy Samberg, Jason Sudeikis, Philip Seymour Hoffman, Kenan Thompson and the show's host and alum, Maya Rudolph.

Also spending time with th! e couple : former SNL star Amy Poehler and current cast mate Kristen Wiig, who, according to the source, "loved the ring and chatted [Biel] up about it."

A rep for Biel could not be reached for comment.