They'll be tying the knot and welcoming a little bundle of joy.
"Catherine Zeta-Jones and Michael Douglas are pleased to announce they are expecting a child. It will be the first child for Ms. Zeta-Jones. Mr. Douglas has a son, Cameron, from a previous marriage," reads an official statement from the couple.
Reps for the couple aren't offering any specifics, but London's Sun tabloid says the Welsh beauty is three months' pregnant. The paper also claims the Entrapment star had to back out as a presenter at Sunday's Golden Globe ceremonies due to morning sickness.
An unnamed source says the couple, who broke the news to her parents last week, are thrilled.
"Catherine has always said she wants to start a family. And she knows Michael is the man for her," dished the source.
The 55-year-old actor and the 30-year-old actress announced their shotgun engagement earlier this month via Douglas' Website.
"I am very happy to announce that I am engaged to Catherine Zeta-Jones. I proposed to Catherine on New Year's Eve at my house in Aspen," read the letter at www.michaeldouglas.com. "We plan to marry sometime this year, however, no date has been set. Check my Website in the future and you'll be among the first to know."
A date has still not been set for the impending nuptials, though some gossip mavens suggest they'll do it on their joint birthday, September 25, on the Spanish island of Majorca.