By Lisa Respers France, CNN

(CNN) -- Paris Hilton got engaged on a snowy mountaintop in January and though it didn't work out, she said she's keeping the ice.

The heiress-turned-reality star and entrepreneur recently appeared on Jenny McCarthy's Sirius XM show and talked about the fate of her 20-carat pear-shaped engagement ring that reportedly cost $2 million.

"The person who we got it from got millions and millions of dollars of free publicity," Hilton said. "I love how social media has basically become a new form of money. Yeah, it's pretty sick."

Hilton announced last month that she and model-actor Chris Zylka had split.

She explained what went wrong while on "The Talk."

"When I fall in love, I fall in love fast and hard, and it was this whirlwind romance," she said. "I've always been obsessed with Disney stories and love stories, and I thought it was gonna be my happy ending, and I just realized after time that it wasn't the right decision."

The pair got engaged during the New Year's weekend while on an Aspen, Colorado, ski trip, and video of the moment went viral.

Hilton confirmed to McCarthy that she plans on keeping the ring.

"Diamonds are a girl's best friend," Hilton said.