Naomi Watts increased her wattage while in New York City this weekend. Why?  She was spotted with what looks like a diamond on her left ring finger.

More pictures after the jump…

Naomi was caught walking with the ring plainly visible on her hand.  When you glance back a few weeks, she also had it on…is this something that slipped under the radar?  Naomi Watts has been dating Liev Schreiber for some time now…and the pair have a son together.  So why not be engaged?  And why is it such a big deal if she is wearing a diamond?