Lauren Silverman, 44, flashes her '$3.4M' engagement ring from Simon Cowell, ...

Lauren Silverman flashed her impressive $3.4million (£2.5m) diamond engagement ring as she departed Britain's Got Talent auditions in London on Thursday.

The newly-engaged socialite, 44, adorably held hands with her fiancé Simon Cowell, 62, following his judging duties at The London Palladium in the West End district.

She flashed a hint of her toned midriff in a white crop top, which she teamed up with a pair of khaki trousers while wrapping up in a peach wool coat.

Elevating her height with a pair of nude heels, she clutched a snakeskin handbag and accessorised her look with a dazzling gold chain.

Meanwhile, the Syco boss kept things casual in a black T-shirt which he combined with a matching pair of trousers and smart leather shoes. 

Simon's fellow judge David Walliams couldn't help himself to a hilarious photobomb opportunity, as he beamed from ear-to-ear behind the couple. 

It comes after record executive broke his silence on the engagement when the couple were spotted in Malibu.

In a video obtained by The Sun where he was asked if the news was true, he responded: 'What do you think?' before replying to congratulations by saying: 'I really appreciate that' in his first public words on the news.

Simon may have once branded marriage 'boring', but according to a new report, it was during lockdown that something shifted with Lauren, with the brunette beauty said to have urged him to commit to their family life and 'prioritise the present' instead of spending time with his famous exes.

A friend told The Sun that 'no one is more shocked about the change in Simon these past few years than Simon', yet was told by Lauren that she needed a 'commitment to family life'.

They explained: 'Not surprisingly, she didn’t appreciate Simon hanging out and holidaying with his harem of exes, particularly Sinitta who was forever lurking in the shadows.

'Simon was told in no uncertain terms that it was him or his exes — Sinitta, Terri Seymour and Jackie St Clair — and, wisely, chose to prioritise his present and future, not his past.'

Simon, whose net worth is estimated to be approximately $600m, (£436m), certainly means business with the ring he presented Lauren with.

Alexandra Michell Gemologist Prestige Pawnbrokers of Channel 4’s Posh Pawn told MailOnline:

'I would estimate this ring is a 15ct oval cut diamond, the stone is a colour D and internally flawless… the best grade on the market.

'I’d estimate the retail value at $3.4million or £2.5 million. This is very classic in style; a single stone on a white gold or platinum band, to really show off the star of the show- the diamond.'

Jewellery experts at Steven Stone claim it's worth a little less at $2.5m or (£1,820,000). Managing Director, Zack Stone, said: 'Lauren's ring looks to be oval shaped, which was the most popular shape of 2021 for celebrities.

'The centre diamond is huge, approximately 20ct. It looks like it’s D colour, which makes it an incredibly high value stone. A ring like this would be worth $2,500,000 (£1,820,000) which is the highest value celebrity ring we’ve seen in the last 12 months.'

Eight years ago, Simon declared that he would always love his exes, saying: 'The love I have for my ex-girlfriends will always be there, so I think that’s true love. People confuse ego, lust, insecurity with true love.

'But for me, whether it’s Jackie, Mezhgan, Sinitta or Terri, they will be in my life forever. I genuinely love them.'

MailOnline has reached out to Simon's representatives for comment.

The music mogul popped the question to Lauren on the couple's Barbados getaway over the new year in front of their son Eric, seven, and Lauren's son Adam, 16.

Despite previously insisting that he 'didn't believe' in marriage, the father-of-one reassessed his views after falling in love with Lauren - who was left 'stunned' by the shock proposal.

A source told The Sun: 'Lauren was absolutely stunned and never in a million years expected Simon to pop the question. She burst into tears - happy tears - and obviously said yes straight away.

'Lauren has been Simon’s rock over these past few years - supporting him when he broke his back, and through thick and thin generally. They make a wonderful couple.

'Whilst Simon never thought he was the marrying type, he’s realised he’s met the woman of his dreams - and couldn’t be happier. In the words of Beyoncé, it was time to put a ring on it.'

A friend of the pair's added to People magazine: 'They are both super happy. They've been together a long time now and adore each other so it's not a huge surprise to their close friends.'

Following the news, Simon was seen out and about for the first time, as he enjoyed a solo bike ride in Malibu.

Simon met Lauren when she was still married to millionaire property developer Andrew Silverman.

Their affair became public – and Simon's life changed – at the end of July 2013 when news broke of Lauren's pregnancy.

In 2015, Simon told Mail on Sunday Event magazine: 'I'm not proud of the circumstances, I can't hold my head up about it.'

And of the pregnancy, he admitted: 'This was not something I planned. But I remember going to the first scan with Lauren.

'I called him Tad because he looked like a tadpole. Something just kicked in. I felt unbelievably protective of both of them. I just absolutely wanted him. I just hadn't known that before.'

Simon had previously stated that he 'didn't believe in marriage' and worried about what would happen to his fortune if he tied the knot. 

The X Factor creator - who has a net worth of approximately $600 million - said in 2008: 'I don't believe in marriage, certainly not in this business.

'The truth is that you get married and in a year or two they clean you out! It's just not going to work.'

The father-of-one has previously enjoyed high profile relationships with the likes of Sinitta, Jackie St. Clair and Terri Seymour. 

He was rumoured to have been secretly engaged to Page Three girl Louise Payne, after she split from husband and Right Said Fred star Fred Fairbrass, yet never confirmed the reports. 

The pair met at a function in London in in 1995 yet split three years later. 

News of the engagement comes after Simon said that his romance with Lauren is 'still alive' having realised they still 'enjoy each other's company' after months of being holed up together during the Covid lockdown. 

Speaking to OK! in November after hosting his annual Together For Short Lives charity ball, Simon gushed that his romance with Lauren was still going strong, after their cosy appearance on the red carpet.

Asked whether their relationship was still alive, he said: 'I guess so! Covid-19 was the real test. Like everyone, we were in lockdown for a long time and that's when you realise whether or not you actually enjoy each other's company or not.

'And we really really did. So to answer your question... yes, the romance is still alive. We're closer than ever.'

While Simon praised for Lauren for always maintaining an active role in his charity ventures, he insisted he does his fair share of the childcare and 'loves' picking up Eric from school and taking him to football training.

The Britain's Got Talent judge also confessed that he's so close to his son that he and Lauren struggle to plan date nights away from him, but in some cases they do 'occasionally make it out alone.' 

Lauren also took on a big role caring for Simon when he was left bedridden for months after a devastating electric bike accident at his Malibu home in August 2020.

The record executive now walks for several hours a day and holds business meetings at 9AM so that he no longer lives like a 'vampire'.

Of his new fitness regime, a source told MailOnline: 'Simon said how he hasn't worn trainers as much as this in 20 years. He feels fitter than ever before and is keeping to a normal routine rather than being on the phone until into the early hours of the morning.'

Simon told Extra in February of the horror bike incident: 'I nearly smashed my spine to pieces!'

The X Factor boss also admitted he 'couldn't have got through' it without his girlfriend Lauren and son Eric, who sweetly called him 'iron man' when he first saw his dad with metal rods and screws in his back following surgery.