TMZ/Getty Composite

J Lo Massive Engagement Ring MIA ... What Gives???

Jennifer Lopez is missing a ring worth nearly $2 mil, but it wasn't a jewelry heist ... it's actually a mystery surrounding her engagement to A-Rod.

J Lo posted a pic of herself Saturday on the set of the movie she's shooting in the D.R.  The movie's called "Shotgun Wedding," and speaking of ... where's her engagement ring?

She captioned the pic, "Keep calm and work on the weekend." The emerald-cut ring with a massive diamond was MIA. BTW, the ring's worth an estimated $1.8 mil, but the issue's not the cost ... it's the whereabouts of the bling.

As you all know by now ... J Lo and A-Rod hit a rough patch recently, seemingly calling off their engagement for a nanosecond and then saying they're working through things. As we reported, their people told us they had briefly called it quits, although they say they never broke things off.

A-Rod flew to the D.R. after the breakup story broke ... and it seemed like they were patching things up.

But now, the ring's the thing. She clearly posted the pic with intention ... so decipher for yourself.

Click here for info about our online advertising practices.