Retna Digital 1 / 11
Retna Digital 1 / 11

Once, twice, three times a daddy for funnyman Will Ferrell!

People magazine confirmed that the former "Saturday Night Live" star, 42, and his auctioneer wife Viveca Paulin, 40, are expecting their third son.

RELATED: Did you know Will Ferrell has a sunscreen line?

The couple met in an acting class back in 1995 and already have two sons together--Magnus, 5, and Mattias, 2. The magazine reports that the third addition to their growing boys' club is due in January.

RELATED: Who is the ultimate Web celeb?

Ferrell's last film was this summer's "Land of the Lost," and his recent Broadway show, "You're Welcome America. A Final Night with George W. Bush," featuring his famous "SNL" Bush impersonation, was nominated for a Tony.

RELATED: See Will Ferrell at the "Land of the Lost" premiere

Congrats to the happy couple!

By Michelle Lanz

More on MSN:

Video: Third son on the way for Will Ferrell