Anna Kournikova's been rocking a mysterious new band on her ring finger lately -- and it's quite the sparkler!

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The tennis star and her boyfriend of 8 years Enrique Iglesias were spotted out at Madeo in L.A. last night, where Anna flashed the new accessory -- which sits on the same finger as the giant yellow diamond that's been there for the past year.

The new band was first seen on her finger back in late October -- just three months after Anna told Graham Norton she and Enrique had no plans to marry. FYI: Enrique's ring finger is still bare.

Anna's camp isn't talking, but we want to know your opinion: Think the duo secretly tied the knot or did Iglesias just buy Kournikova some new bling?