Mariah's 'Fantasy' Wedding To James Packer Revealed

Mariah Carey's fairytale romance with billionaire James Packer will have a happy ending after all since the two are now engaged to be married! The 48-year-old Australian businessman popped the question to the diva songstress in her hometown of Long Island, New York, Thursday night and RadarOnline.com has all the exclusive details about their engagement and upcoming wedding.

As previously reported, Carey, 45, was hoping for a Valentine's Day engagement. But when Packer surprised his "Dream Lover" singer with a ring that is worth a reported $8 million dollars, "She was blown away," a source close to Carey said.

"She knew that he was going to propose to her, but he told her that he could not wait any longer."

"Mariah is just beyond excited right now," the insider said. "She has wanted to be his wife pretty much since they first got together, and has already started to plan what type of wedding she wants to have."

As RadarOnline.com previously reported, Carey and Packer solidified their love for one another this past summer aboard one of his yachts off the coast of France.

"Mariah wants the wedding to be this coming summer and she said she would really love it if they could get married where they first fell in love, in the Mediterranean region," said the source.

"She wants this wedding to be the biggest and most expensive wedding that the world has ever seen!"

"All of her friends are really happy for her because when Mariah is happy, everyone around her is happy," the source told RadarOnline.com.