Prince William, Kate Middleton

It's official! Britain will soon have a new heir to the throne.

Prince William's wife, Kate Middleton, is pregnant with the couple's first child, Buckingham Palace announced Monday.

Look back at photos from William and Kate's royal wedding

"Their Royal Highnesses The Duke and Duchess of Cambridge are very pleased to announce that The Duchess of Cambridge is expecting a baby," the Palace said in a statement. "The Queen, The Duke of Edinburgh, The Prince of Wales, The Duchess of Cornwall and Prince Harry and members of both families are delighted with the news."

Middleton — or Duchess Catherine as she's officially known — was admitted to a Central London hospital Monday with acute morning sickness, the Palace reported.

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"As the pregnancy is in its very early stages, Her Royal Highness is expected to stay in hospital for several days and will require a period of rest thereafter," the statement said.

The report comes after months of speculation about when the couple would start a family. Are you excited about the news?