Reese Witherspoon debuts $250,000 ring

Reese Witherspoon is sporting quite a rock!

On Tuesday night, the newly engaged actress, 34, flashed her engagement ring for the first time while attending the L.A. Lakers game with fiance Jim Toth. See more pics of Reese and Jim sitting courtside.

Photo gallery: How Reese and Jim fell in love

The CAA agent, 40, worked with jeweler William Goldberg to design the 4-carat, $250,000 Ashoka cut diamond ring before popping the question in December. ( was the first to announce the couple's "happy" engagement.)

Photo gallery: Hollywood's biggest engagement rings

Toth, who began dating the How Do You Know actress in January 2010 after she split from Jake Gyllenhaal, is already a hit with Witherspoon's kids, Ava, 11, and Deacon, 7.

Photo gallery: Surpring star engagements

"The kids are a big part of their relationship," a source recently told Us Weekly. "They're all comfortable together."