The Wanted singer George has allegedly been asking his ex-fiancée Keegan to give him back the £10,000 ring for over four months, according to The Mirror.
The Coronation Street actress ended her engagement to George in April, before they announced their eventual split in July.
A friend of George said: "He is desperate to get it back but is not getting anywhere."
However, a source close to Keegan said that she is "staggered" by his demand. They stated: "It's a bit rich considering all that's subsequently come out to suddenly start demanding it back. Perhaps he needs the money."
However, the insider added that Keegan is happy to meet up with him to give it back, but he apparently wants it to be posted.
Michelle Keegan recently stated that getting busy with Coronation Street work helped her get over the break-up from Max George.
The actress was recently romantically linked to rugby player Mark Flanagan.