Lisa Valastro and Buddy Valastro

The Cake Boss family no longer has a bun in the oven: Buddy Valastro's wife, Lisa, has given birth to a baby boy.

Carlo Salvatore Valastro was born Monday, weighing in at 7 pounds, 3 ounces.

"We feel so blessed to welcome a healthy new baby into our family," Valastro told People. "Lisa's doing great and we can't wait to bring Carlo home."

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Carlo is named after the man who owned the family's business, Carlo's Bakery, before Valastro's father took over. His middle name is after Sal Picinich, a baker at the shop for more than 40 years. He passed away from cancer last month.

Carlo joins sister Sofia, 7, and brothers Buddy, 6, and Marco, 3.

TLC will air a one-hour special detailing the baby's arrival on Sunday, March 6 at 9/8c.