Axelle Woussen / Bauer-Griffin 1 / 15
Axelle Woussen / Bauer-Griffin 1 / 15

Break out the blue cigars!

With just a few short months to go until becoming first-time parents, Giuliana and Bill Rancic have revealed that the baby they'll welcome with the help of a gestational surrogate will be a boy.

PHOTOS: Giuliana & Bill dish on baby names, celeb playdates and more

"We are beyond excited to be having a little boy," Bill tells E! News. "We are so ready for everything that comes with being a new mom and dad!," added his wife -- who shared their happy news with family and friends at a baby shower in Los Angeles Sunday. "We just can't wait!"

VIDEO: The couple beam at their baby's latest ultrasound

When their child arrives at the end of the summer, it will be a dream fully realized for breast cancer survivor Giuliana, 37, and Bill, 41. "We are so blessed!" the E! News anchor and "Fashion Police" co-host told Us Weekly in May. "This truly is a miracle baby."

VIDEO: Will Baby Rancic be a Fortune 500 CEO or an NFL Quarterback?

Traveling from their homes in Chicago and Los Angeles to be with their surrogate during her doctor's appointments, the couple cannot wait to be in the delivery room to witness their baby's first breath.

Says Giuliana: "It will be the best moment of our lives."

This article originally appeared on Usmagazine.com: Giuliana, Bill Rancic's First Baby Will Be a Boy!