"We're super excited to announce we're expecting a baby!" Pete captioned this upside-down selfie of the happy couple along with a couple of cute emojis (a guy, a girl and a baby).
In the photo that Pete posted, we're guessing he's showing off Meagan's baby bump, but all we can see is the model's figure still looking perfect.
Pete has a 5-year-old son, Bronx, with ex-wife Ashlee Simpson, who recently announced that she was engaged to Diana Ross' son, Evan Ross.
Pete recently told E! News that he and Ashlee remain "great friends," which was evidenced by a birthday outing for Bronx that Ashlee, Pete AND Meagan all attended.
While Pete and his ex are still great friends, it sounds like the rocker's current relationship is definitely rock solid. During a recent interview on The Wendy Williams Show, Pete called Meagan his best friend and even hinted that he might want to get married again.
A huge congrats to the happy couple!
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Gallery | Celebrity Babies