Olivia Wilde, Jason Sudeikis Expecting First Child

"They are incredibly happy," says a source close to both. "They're very excited to welcome a new member into their family."

Reps for the couple confirm to PEOPLE that Wilde is pregnant with their first child.

The two met on the season finale of Saturday Night Live in 2011 and began dating six months later. They got engaged in January.

Image: Olivia Wilde and Jason Sudeikis, via s_bukley / Shutterstock.com

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