Pregnant Hailey Bieber and Husband Justin Have the 'Perfect' Name Picked Out for Their Baby: 'They Will Be Great Parents'

Baby Bieber might not have entered the world just yet, but they already have a precious name picked out by their parents!

On Thursday, May 9, Justin Bieber, 30, and his wife, Hailey, 27, announced they were expecting their first child together, with a source later confirming the A-list couple knows what they'll be calling the little one.

"They have a name that they think is perfect," an insider revealed to a news publication of Hailey and Justin, noting: "They’re also starting to decorate a nursery. They can’t wait to meet the baby."

"Everyone is excited for them," the confidante gushed. "They will be great parents, and Justin will be super involved. This will be the next important project for him. He’s so excited to raise his baby."

The source said the longtime lovers finding out Hailey was pregnant was "just the best day for them." A separate insider previously informed OK! the model is roughly six months along, meaning she will soon be entering her third trimester.

Hailey and Justin — who tied the knot in 2018 — shared the news with their millions of Instagram followers on Thursday with a romantic video of the duo renewing their wedding vows.

In the clip, the Rhode Skin founder donned a stunning white laced gown showcasing her growing baby bump.

The camera purposefully zoomed in on the brunette bombshell's belly during an intimate moment between Justin and his wife.

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Regarding Hailey's pregnancy, the source said she and the "Peaches" singer "have both been very emotional about it."

"They feel so blessed," the insider expressed. "They’ve also felt very protective of the baby from the moment they found out. They shared with family and close friends early on. It was very important for them to keep it quiet and just enjoy [it] for as long as possible before they publicly confirmed."

Hailey's best pals — including Kylie and sister Kendall Jenner – were quick to publicly congratulate the former ballerina after she shared the news.

"Ahhhh here come the tears again ❤️," Kendall, 28, who has been one of Hailey's closest friends for years, wrote in the comments section of the pregnancy announcement video, while Kylie, 26, added: "I love you guys!!!! ahhhhhhhh."

"SCREAMING ❤️❤️❤️❤️," exclaimed Aimee Song, 36, declaring in a follow-up comment, "@haileybieber you’re going to be such an incredible mama!!!!! Congrats you two!!"

Beneath Justin's post, The Kid Laroi, 20, penned, "MY HEART 🥺🥺🥺. LOVE YOU GUYS SO MUCH," while Justin's half-sister, Jazmyn, 15, simply dropped a pair of red hearts.