On Sept. 2, the back-to-blonde singer and actress, 38, arrived by water taxi to the star-studded event. She looked every bit a movie star in her long-sleeve, black and white polka dot mini dress by La Roxx, teamed with sheer tights, black pumps and black sunnies. But it was her large diamond engagement ring that stole the show, which Gaga proudly flashed to photographers. The ring appears to be a large oval diamond set on a pavé diamond band.

During their boat ride the pair displayed PDA, hugging and exchanging kisses before and after they arrived at the Hotel Cipriani dock.

Franco Origlia/Getty

Lady Gaga flashes her engagement ring while holding hands with fiancé Michael Polansky

This marks the first time the Grammy winner has shown off her ring, after she first sparked engagement rumors on April 7. At the time, she was spotted in West Hollywood wearing a long black coat with sleeves that failed to hide her giant bling.

Her relationship status was confirmed when, at the 2024 Paris Olympics, Gaga introduced Polansky as “my fiancé" to French Prime Minister Gabriel Attal, as seen in a video shared to Attal’s TikTok on July 28.

PEOPLE reached out to reps for both Gaga and Polansky for comment at the time.

Franco Origlia/Getty

Lady Gaga and Michael Polansky arrive at the Venice Film Festival on Sept. 2

The couple is in town for the premiere of Gaga’s new film, Joker: Folie à Deux, on Sept. 4. And it looks like Polansky is ready to support his love in any way, like he did at the Summer Games, where the Haus Labs founder pulled off a cabaret performance in a Dior Haute Couture look.

Gaga and Polansky were first romantically linked in 2020 when they were photographed kissing at a New Year's Eve party in Las Vegas. Just weeks later, they went public with their relationship during a PDA-filled weekend in Miami for Super Bowl 2020. They also quarantined together at her Malibu home during the COVID-19 pandemic.

A source told PEOPLE in November 2021 that while the two didn't "seem rushed to get engaged," they were already acting "like a married couple."

Three years later, here they are, loved up and ready to take on Venice.