How to output label instead of value from select list?

I have a select list with key/labels like this:
1|married
2|single

I'm setting a variable like this to get the value:
$mstatus = $entity->field_marital_status[LANGUAGE_NONE][0]['value'];

This outputs the value as: 1 or 2 correctly.

How do i print the label itself though so i can do something like "You are $mstatus" so it displays as "You are married" instead of "You are 1"?