Olivia Wilde and Jason Sudeikis Expecting First Child

Olivia Wilde and Jason Sudeikis are expecting their first child, PEOPLE reported Oct. 27.

"They are incredibly happy," says a source close to both. "They're very excited to welcome a new member into their family."

Representatives for the couple also confirmed her pregnancy. No other details were given such as her due date, but the couple became engaged in January. They had been dating since November 2011. Wilde was recently divorced from her husband, Italian prince Tao Ruspoli. They were married for eight years. Their divorce was finalized in March of that year and she fell hard for the SNL alum.

Last year, she spoke fondly of Sudeikis. She told an audience during a monologue in N.Y.C. that David Beckham had nothing on her significant other.

"I would drop him off at the pound," the 29-year-old quipped.

Wilde also said that their sex life was similiar to Kenyan marathon runners but also insisted that her attraction to him was more than physical. She said she was blissfully in love with him and loved holding hands with him which is a practice she never preferred. In recent months, she began to publicly discuss the possibility of children.

"He's so good with kids," she told Marie Claire. "I'm open-minded about how many, but three is like a little party."