AceShowbiz -

Rocker Bret Michaels has dismissed rumor that he proposed to his on/off girlfriend of 16 years, Kristi Lynn Gibson. During his appearance on CBS' "The Early Show" on Wednesday morning, July 14, the Poison star confirmed, "No. We are not engaged yet."

Though Lynn Gibson has been spotted wearing a large diamond ring, Michaels clarified that the rock does not represent an engagement. The 47-year-old star claimed, "[It's] a promise ring... a friendship ring, with benefits. That's what we call it."

Michaels, however, insisted that the engagement thing is on the future, saying "But yes, is it a work in progress? Absolutely." He further praised his longtime partner, "She's a beautiful woman. She's strong. I love her. We respect each other. And I think that's the start of a great relationship."

The engagement story was first run by U.S. tabloid the Star. According to the mag, Michaels popped the question during the Independence Day weekend. An insider revealed that Michaels' health scare has made him realize how important family is, claiming "He's woken up. He now knows he wants to be a husband... Kristi is thrilled that they will be getting married."

Bret Michaels, who is currently promoting his new album "Custom Built", and Kristi Lynn Gibson have on/off relationship since 1994. The couple has two children together, 10-year-old Raine Elizabeth Sychak and 5-year-old Jorja Bleu Sychak.