Uma Thurman is now 8 carats lighter.

The actress called off her year-long engagement to hedge fund manager Arpad Busson, PEOPLE reports. "The engagement ended awhile back – almost two months ago," says their source. "They remain friends."

Thurman, 39, ended the engagement on November 15, but NY Post columnist Cindy Adams was first to reveal the news in her column today. Busson proposed in the summer of 2008 with an 8-carat diamond ring, but Thurman won't be keeping any souvenirs. "She will probably give it back," says the source. "She wants to return everything that is his."