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Have you been preparing to welcome what's bound to be one of the cutest babies in Hollywood?

Irina Shayk and Bradley Cooper are expecting their first child together, and we're so excited to meet the little bundle of joy. However, we still have a bit of time to get ready.

An insider tells E! News the couple isn't expecting the baby until summer, sometime around May.

"Irina is feeling wonderful. She is so happy," the source explained. "Bradley and her can't wait for their baby to arrive in the summer. They [also] know the sex of the baby."

Irina Shayk, Gloria Campano

Stoianov/FAMEFLYNET PICTURES

Though they haven't divulged that information yet, their families are ecstatic about the new addition, too.

"Bradley's mother [Gloria Campano] and Irina are very close, and she has been really supportive," the insider dished. "She is ecstatic to be a grandma. She is a really kindhearted mom. They get along great—even when Bradley is working they hang out."

In fact, the supermodel was spotted out with his mother on Monday, shopping at Whole Foods in Los Angeles where the couple and Campano have been spending most of their time lately.

"Irina and Bradley are mainly staying at Bradley's house in California when they are not traveling," the source explained. "They both have apartments in New York City, but always stay together."

Meanwhile, E! News confirmed Shayk's pregnancy just a few weeks ago, following her appearance on the Victoria's Secret runway in Paris.

We're told she has been nonstop traveling since then, but is slowing down as she's started feeling the side effects of the pregnancy.

"Irina is doing pretty well. She has some food cravings because she's pregnant," another source recently told us. "She is not the kind of woman to count calories, but she has been taking it easy. She's also exercising in moderation."