Prince William and Catherine Middleton announce their engagement at St James' Palace (Photo courtesy of Clarence House)

The couple met at St Andrew's University in 2001 on the History of Art course, and they shared the same accommodation along with other friends. They were first noticed together in 2005, and since then, the nation has held its breath as they waited for the engagement.

However, the long waiting period earned Kate the nickname "Waity Katie" and their brief split in 2007 left everyone unsure of whether this was a relationship willing to stand the royal pressures. There were also rumors that the Royal Household didn't quite approve of Kate's middle-class background, but it appears that she has won them over, as the Queen is "absolutely delighted" and Prince Charles is "thrilled, obviously." 

William said that he had proposed to Kate in Kenya three weeks ago, while they were on holiday with friends. Although it didn't come as a big surprise as the couple had been discussing wedding plans, Kate did say that the Prince's proposal was "very romantic," in an interview with the BBC. Kate will also be dropping her nickname for the more formal "Catherine" as she prepares to join the royal family.

The ring has also garnered interest, as it belonged to William's mother, the late Princess Diana, whose tragic death in 1997 had the world mourning her loss. The ring, a blue sapphire surrounded by diamonds, was William's way of "making sure my mother didn't miss out on today and the excitement."

In an official announcement at St James' Palace earlier today, the happy couple announced that they are planning to get married in the Spring or Summer of 2011, which incidentally would have marked the 30th Wedding Anniversary of William's parents, Prince Charles and Diana. Speculation is already taking place over where the event will be held, with BBC's Royal Correspondent Peter Hunt suggesting that the event may take place at London's Westminster Abbey, where Queen Elizabeth II herself was married in 1947.

William, who is second-in-line to the British throne, will be moving to northern Wales with his new bride.

Reach Senior Entertainment Editor Piya Sinha-Roy here, and follow her on Twitter @PiyaSRoy.