By Marisa Laudadio
Not only are Olivia Wilde and Jason Sudeikis planning a wedding -- now the couple of two years are expecting a baby!
"They are incredibly happy," a source close to the couple tells People. "They're very excited to welcome a new member into their family."
People confirmed the happy news with reps for the couple, who met on the season finale of "Saturday Night Live" in 2011.
Jason, 38, proposed to Olivia, 29, in January 2013. This will be the first child for both.
Click on to see more photos of the parents to be…
© 2014 Whalerock Industries