Penelope Cruz is a New Mom!

Penelope Cruz and her husband Javier Bardem sure have a lot to be celebrating this week.

Not only did Javier receive an Oscar nod yesterday for his role in Biutiful but he and his gorgeous wife have just welcomed their very first baby to the family – a baby boy!

Multiple sources are reporting that Penelope gave birth to their new son yesterday (Tuesday) at Cedars-Sinai Hospital in LA. The name of the baby boy has not been released and no more information is available at this time.

Penelope and Javier married in July of last year and have known each other for almost 20 years.

Can’t wait to see photos of the little tyke!