A lot of interesting things happened at the MTV Video Music Awards last night, and some fantastic eye candy was part of it. Katy Perry and Kristin Cavallari literally sparkled on the red carpet wearing sexy silver cocktail dresses. See more photos after the jump!

Image © Sylvain Gaboury / PR Photos

Katy has sparked rumors she is set to marry her boyfriend Travis McCoy after she was spotted wearing a diamond ring on her wedding finger. The couple was previously forced to deny engagement rumors in 2008 after a New York tabloid reported that the Gym Class Heroes frontman had proposed during a trip to France over the summer.

Image © Sylvain Gaboury / PR Photos

Jason Statham recently hooked up with The Hills beauty Kristin Cavallari, according to reports. The pair was spotted "snuggling" during a night out in Hollywood this summer, and friends claimed sparks were flying between them.

Who do you think looked hotter? Leave a comment below!