They've only been engaged for a few weeksand already Iggy Azalea and Nick Young have been plagued with rumours that they've called off their impending marriage.

According to reports over in the US, Iggy has now dumped Nick after claims surfaced last month of the basketball player cheating on her with former MTV host Donatella Panayiotou.

“Iggy feels absolutely betrayed by Nick,” an insider told Star.

Though not so betrayed that she'll be giving back the $500,000 ring he gave her.

“As of now, Iggy’s keeping the rock he gave her,” the source added. “She’s been publicly humiliated. Nick owes her.”

Err yeah he does!

With no comment from Iggy yet on these new reports, we imagine it will only be a matter of time until we hear her side of the story, and whether any of this is actually true or not...