ryan phillippe getty Ryan Phillippe sends well wishes to Reese Witherspoon and Jim Toth

Ryan Phillippe may not have jumped on the holiday engagement bandwagon himself, but his ex-wife certainly did. 
Reese Witherspoon announced her engagement to CAA agent Jim Toth on Dec. 28, and her baby-daddy is giving the happy couple his blessing.
The “Stop-Loss” actor tells the Daily News, “I am very happy for both Reese and Jim. I wish nothing but the best for the mother of my children.”
Witherspoon and Phillipe were married for seven years and have two children together, Ava, 11 and Deacon, 7. They also co-starred in the teen drama “Cruel Intentions.”
In April 2010, the actor had spoken to Howard Stern of his relationship with the “How Do You Know” star, saying that they had “gotten to a great place where we’re great friends and great co-parents.” How great!
As for the newly betrothed Witherspoon — no word yet on when she and Toth will make it official, but details have been released on her new sparkler.
A rep for the actress confirms that she is now sporting a hefty 4-carat Ashoka diamond on her left ring finger. The rare diamond features 62 facets and rounded corners, making it a unique and classy choice for the A-list sweetheart. 
Posted by:Sophie Schillaci