Only happy tears here!

Ashley IaconettiandJared Haibonare engaged, PEOPLE confirms. Haibon popped the question Sunday while in Mexico for the upcoming fifth season ofBachelor in Paradise, the summer spin-off series whereThe Bacheloralums’up-and-down relationshipbegan three years ago.

Haibon got down on one knee on the beach as the bride-to-be, wearing a bright yellow dress, put her hands on her chest and threw her head back in excitement.

“Ashley and Jared are both so excited about the engagement,” a source tells PEOPLE. “Ashley had her suspicions that an engagement would happen in Mexico but she didn’t want to get herself too psyched out and then have nothing happen. They’re both thrilled though!”

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ASHLEY IACONETTI, JARED HAIBON

Fans remember Iaconetti, 30, being crushed on the second season ofParadisein 2015 when Haibon, 29, didn’t reciprocate her instant feelings of attraction. However, the two remained close andbuilt a strong friendship.

During a weekend spent in Virginia with their friends for a charity event Iaconetti was planning, Haibon saw her in a different light. “I was in love,” he previously told PEOPLE. “That was such a different experience being with someone in the show and in real life. [Iaconetti was] just so down to earth and easy-going, ambitious … sexy.”

Added Iaconetti, “I knew that he was looking at me!”

Though they frequently hung out throughout the fall and were “flirty” with each other, the timing was never right, the pair said.

They officiallyconfirmed their relationship in late May, and recapped their journey for fans in a tear-filled episode of Iaconetti’s showThe Story of Us.

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“There’s just this undeniable, magnetic force between the two of us that just is indescribable,” Haibon told PEOPLE at the annual Nylon Young Hollywood Party last month. “Love conquered.”

When asked if they have talked about marriage, the couple was open about the fact that they had considered their future, but were happily enjoying their dating life.

“As soon as we started dating, we both knew that this isn’t just for us to date as boyfriend/girlfriend — this was more so we were going to date because we see a potential life partner in each other,” Haibon explained. “We’ve talked about it but we’re just dating right now, we’re enjoying that. We literally just announced our relationship. The thing is, we’ve been so close for the past three years, I just know her inside and out. I know everything about Ashley.”

RELATED VIDEO: The Story of Us – Ashley and Jared

In fact, the duo are already comfortablecalling each other “husband” and “wife.”

“I think we just both see each other aslifelong partners, so it’s not scary, for me personally, to call her my future wife,” Haibon explained.

The new season ofBachelor in Paradisewill premiere this summer on ABC.

Melody Chiu

source: people.com