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    Watts & Schreiber: Meet the Parents

    What weighs more than 21 grams but less than King Kong?   

    That would be Alexander Pete Schreiber, the baby boy Naomi Watts and beau Liev Schreiber welcomed Wednesday afternoon in Los Angeles, the actress' rep, Robin Baum, confirmed to E! News.

    This is the first child for the Painted Veil costars, who have been an item since 2005. 

    No word on his thespian potential yet, but Alexander weighed in at 8 pounds, 4 ounces and measured 22 1/2 inches long. 

    The news of Watts' pregnancy unintentionally slipped through her fingers back in February, when a press release circulated by Italian design house Escada—which provided Watts, 38, with her Academy Award duds—prematurely spilled the beans. 

    "The Escada gown sets off her most precious new asset—the baby she is expecting with longtime boyfriend Liev Schreiber," read the statement sent to various media outlets, including E!, on Oscar eve. 

    Watts didn't address the news on the red carpet, but Schreiber confirmed their expectant status the following night during an appearance on Late Night with Conan O'Brien.

    The duo celebrated their impending arrival last week with a coed baby shower at their Los Angeles home, according to People. Kate Hudson and Carla Gugino were among the handful of guests in attendance.

    A Tony Award winner in 2005 for Glengarry Glen Ross, Schreiber was nominated for Best Performance by a Leading Actor in a Play this year for his fiery turn as shock jock Barry Champlain in a revival of Eric Bogosian's Talk Radio. He was also nominated for an Emmy and a Golden Globe in 2000 for his role as a young Orson Welles in the HBO movie RKO 281.

    The 39-year-old actor, who has starred in remakes of The Manchurian Candidate and The Omen, as well as lighter fare such as Scream 2 and Kate & Leopold, most recently filled in this spring for an on-hiatus William Petersen in a multi-episode arc of CSI.

    Schreiber is up next on the big screen in the Commandments-inspired comedy The Ten, in theaters Aug. 3, costarring Jessica Alba, Paul Rudd, Winona Ryder, Rob Corddry and Adam Brody, and the adaptation of Gabriel García Márquez's heady epic romance Love in the Time of Cholera.

    That cast also includes Javier Bardem, John Leguizamo, Catalina Sandino Moreno, Benjamin Bratt, Hector Elizando and Fernanda Montenegro. The film is slated for a Nov. 16 release.

    Watts, who obviously had to take a little time out to prep for her new arrival, already has a few projects in the can, including the David Cronenburg (i.e. weird) crime caper Eastern Promises, costarring Viggo Mortensen and due out Sept. 14, and the hostage thriller Funny Games with Tim Roth, which is scheduled to unspool in January 2008.

    The British-born performer has also reportedly signed on to star opposite pal Nicole Kidman in the drama Need, playing a psychiatrist who discovers that her suicidal patient is having an affair with her husband.