Bo Bice and Caroline Merrin Fisher

American Idol alum Bo Bice has great expectations for the new year — namely the arrival of this third child with his wife, Caroline.

"American Idol has a new winner each year — seems things are the same in our house," Bice tells People. "Can't wait to introduce our new little Idol to the world January 31st!"

Married for four years, the Bices are already parents to sons Aidan, 3, and Caleb, 9 months.

Bice, who finished second to Season 4 champ Carrie Underwood, will kick off a summer tour next month and is slated to open for Lynyrd Skynyrd in August.