Ashlee Simpson is so cutting edge trendy she is making us bleed. Our eyes anyway. Ashlee was spotted with this new Louis Vuitton ‘joke bag’ at a photoshoot this week in L.A. Ashlee’s new crazy LV is distressed and features the following lines from artist Richard Prince.

Every time I meet a girl who can cook like my Mother … She looks like my father … My wife went to a beauty shop and got a mud pack. For two days she looked beautiful. Then the mud fell off!

The cost of this spray painted laser-cut pony skin joke bag? No joke kids, this hipster handbag sells for $2265. Richard Prince is known for his Jokes series work pertaining to sexual frustrations and middle-class American mentality.

This just in!!!! ET is reporting that Ashlee Simpson and Pete Wentz are planning to tie the knot on May 17. Someone doesn’t want to have a baby bump in their wedding photos.

ASHLEE SIMPSON will be a blushing bride in just days! Sources tell ET that JESSICA SIMPSON’s little sis will wed PETE WENTZ Saturday, May 17 at a private home in Los Angeles. About 120 guests are expected to attend the affair, which will be kept private under fashionable tents! Ashlee, 23, and her FALL OUT BOY beau, 28, have been romantically linked since fall of 2006.

Ashlee Simpson is playing the new celebrity pregnancy game. Don’t ever confirm it. Ever. Not even after the baby’s born. Unless some weekly magazine offers you $5 million for your exclusive announcement and cover story. Since ASimp doesn’t pull that kind of weight in L.A., she is remaining tight-lipped.

She wouldn’t even give it up on the Ellen DeGeneres show. On the episode airing April 24, Ellen just flat out asked Ashlee if she was knocked-up or not.

“Well, that has been going on for quite a while. That is definitely something that I choose personally not to discuss except for the fact that maybe….Do I look like I had 10 cheeseburgers or something … because I don’t think I do,” before standing up.

Pointing to a photo of Jennifer Lopez, DeGeneres then asked, “You’re not going to keep this answer up as long as this woman did….”

Laughing, Simpson replied, “No, I’m not. I swear. I promise you that. I give you my pinky on that.”

Ashlee also dishes on her relationship with Pete Wentz and how she knew he was ‘the one’ when she realized they wore the same sized jeans and they could share.

We told you last week when Ashlee Simpson and Pete Wentz announced their engagement that we smelled a bun in the oven. Today we got confirmation.

 Ashlee Simpson is pregnant, a source confirmed to Usmagazine.com. The singer, 23, is expecting her first child with fiancé Pete Wentz, 28. Simpson and the Fall Out Boy frontman announced their engagement Wednesday. “We are thrilled to confirm their engagement and congratulate this happy couple,” a spokesperson for the couple told Us. “Beyond that there is nothing to say.”

Ashlee Simpson is expanding her “career” to include fashion designer. Well, it’s more like t-shirt designer as her line for Wet Seal will be limited to knit tops. But hey, a Simpson’s gotta start somewhere.

The line is set to launch on the same day as Ashlee’s new album, Bittersweet World. That date is April 22 if you want to start a countdown. Conveniently enough, her CD will also be available at Wet Seal. So if you’re in the mood for a double dose of Miss Simpson, the youngest, you can buy both her music and clothes in one quick stop.

Below are the first two promo shots for Ashlee’s new line t-shirts.

The big news today is that Ashlee Simpson and Pete Wentz are engaged to be married. The engagement has been confirmed by Ashlee’s people…but what we really want to know is if the pregnancy rumors are true. It’s hard to believe Papa Joe would condon this after Jessica’s disatrous marriage unless it was necessary.

“He got down on one knee and she said yes,” a family friend tells In Touch. The couple went away to Colorado just days ago where Pete’s brother had an art exhibit, and that is where Pete, 28, popped the question to Ashlee, 23. “She has an amazing ring, and they are so in love,” adds the friend. And Ashlee’s parents, Joe and Tina, not only approve but are thrilled! The couple, who started dating in October 2006, have not set a date for the wedding just yet.

The producers at Saturday Night Live were so not impressed with Ashlee Simpson’s 2004 lip synching/jig dancing disater that they refuse to let her bring her non-talent back to their stage.

DON’T expect to see Ashlee Simpson back on “Saturday Night Live” any time soon to promote her new album “Bittersweet World.” An insider said her father, Joe Simpson, “wanted her to go on ‘SNL’ - where her first appearance, in 2004, was marred by her lip-synching fiasco - and they said no.” Word is Ashlee was “a pain” during her time at “SNL” and the producers have notoriously long memories. A rep for Ashlee said, “We’re not doing ‘SNL’ because they’re dark the week we are here in April and there were no other opportunities later in the year.”

Rock on SNL! Way to fight the good fight. Now can you get every other artist to stop with the lame lip synching too?

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Ashlee Simpson is set to move on to the next stage of the Papa Joe Simpson market my daughter plan. Wet Seal, a juniors clothing mega-chain, has announced that Ashlee will be designing a line of rock inspired t-shirts for them.

According to Wet Seal, Ashlee’s collection features designs inspired by her own personality, sense of style and album artwork. “I was inspired by so many fun, wonderful things as I was recording Bittersweet World and it’s been great to carry through those inspirations into these new shirt designs,” says Ashlee. “I hope my fans love this album and rock out in these shirts!”

Not suprisingly, Ashlee’s t-shirts will be debut on April 22 — the same day her new album, Bittersweet World drops. 

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