The 54-year-old music mogul and girlfriend Lauren Silverman welcomed their first child together on Feb. 14, and since arrival of little Eric, Cowell has been "obsessed with the baby" and "really enjoying fatherhood," according to a source.
Although Eric—who is named after Simon's late father Eric Selig Phillip Cowell—is less than two weeks old, Cowell is already working hard to build a strong relationship with his son, much like the one he shared with his dad, which is why he chose to pay tribute to his father when choosing a moniker for his only child.
"What he is striving for is to build the same relationship [with his son] over the years," Max Clifford, Cowell's publicist and longtime friend, tells People. "It's the whole family thing—he got a tremendous amount of comfort from the relationship he had with his mum and dad. They were very, very close."
The former X Factor boss' father passed away in 1999, and the same day as the birth of his son, the TV personality took to Twitter to share the inspiration for Eric's name.
"He wants to recreate the father-son relationship that he got when he was a little one from his dad," Clifford said.
And it seems as if he couldn't be happier as he enjoys his first foray into fatherhood.
"When the baby's around, Simon's constantly kissing, holding and patting him," a source recently told E! News. "He's really enjoying fatherhood."
E! News has also learned that little Eric will have three nurseries around the globe, including a crib to call home in New York City, London and Los Angeles.
"Simon's sparing no expense," the source added.
Cowell most recently shared an aww-worthy photo of his baby boy soundly sleeping with two stuffed animals, or, as the Brit liked to call them, Eric's "new friends," and he's been documenting his first few days with his son nonstop via Twitter.
Prior to Eric's arrival, Cowell told Parade magazine he thought he would be "a good dad in terms of advice."
"I never know what to do," he confessed when it comes to newborns. "But [once he's older]…then I'll get to do all the things I want to do, like go to Disneyland or Universal Studios, teach him how to drive—I love all that."