The engaged couple, who are together more than four years, has been the subject of breakup rumors for months.
The elder Cyrus fueled the split speculation during an interview with ABC News to promote his new memoir "Hillbilly Heart."
"I know as I was writing the book I wanted to keep that particular moment as open-ended as possible," Billy Ray Cyrus said of his daughter's wedding plans. "I didn't know the answer. They're young. They're kids. The great news is, they're great friends. They're really, really good friends. If you end up getting married, that's your business too, you know?"
Asked if he thinks they will actually tie the knot, Billy Ray replied: "I don't know. I really don't. I play it by ear and I know whatever is meant to be, that's the way it's going to happen."