Megan Fox and Machine Gun Kelly are “very excited” to welcome their first baby together.

The actress, 38, and her fiancé, 34, announced the happy news that they are expecting on Monday, Nov. 11, and a source tells PEOPLE that the couple was “keeping the baby news quiet until Megan was ready to share,” adding that the Transformers star and musician “can’t stop talking about the baby.”

“They are very excited. He’s basically telling everyone he knows,” the insider says.

“Megan felt nervous early on in the pregnancy, but she feels more relaxed now,” says the source. “She’s trying to enjoy it. She loves being pregnant.”

The insider adds that the engaged couple is “doing well” and “focused on the baby right now.” Noting, “It doesn’t seem they will get married before the baby arrives.”

This will be Fox’s fourth child and Kelly’s second. Fox shares sons Noah, 12, Bodhi, 10, and Journey, 8, with ex-husband Brian Austin Green. Kelly is a dad to daughter Casie, 15, whom he shares with ex Emma Cannon.

Fox cradled her baby bump while covered in black liquid in an Instagram post announcing the news earlier this month. In another snap, she held up a positive pregnancy test to the camera.

“Nothing is ever really lost. welcome back 👼🏼❤️,” she captioned the post, using song lyrics from Kelly’s track “last november,” a song about his and Fox’s past pregnancy loss.

In November 2023, Fox opened up about experiencing a miscarriage, describing the experience in two poems featured in her book Pretty Boys Are Poisonous.

“I’ve never been through anything like that in my life,” she said on Good Morning America last year. “I have three kids, so it was very difficult for both of us and it sent us on a very wild journey together and separately…trying to navigate, ‘What does this mean?’ and ‘Why did this happen?’ “

Fox and MGK first met on the set of the indie thriller Midnight in the Switchgrᴀss in March 2020; shortly after, the pair were spotted spending quality time together. By July 2020, the couple had confirmed their relationship.

MGK proposed to Fox in January 2022. In February 2023, Fox seemingly hinted that the couple had broken off their engagement and split up on Instagram, but they were seen together at Sports Illustrated‘s Swimsuit issue launch a few months later. Since then, they have reconciled, and the actress has resumed wearing her engagement ring.