Blake Lively, Ryan Reynolds Ryan Reynolds and his wife, actress Blake Lively, at the 67th Cannes Film Festival in Cannes, France, May 16, 2014. The couple is expecting their first child together, Lively confirmed on her website, Preserve. Photo: Reuters

Blake Lively is pregnant! Following rumors that the actress and her “The Green Lantern” co-star Ryan Reynolds were planning to try for a baby, the married couple confirmed Monday that they’re expecting their first child together. Lively, 27, made the announcement on her lifestyle site Preserve alongside the company's Preserve Celebration: Falling for Family launch. 

“Preserve at the core is about family,” reads the site’s statement. “Family is the single word our founder, Blake, built this home on. We have something for men, for women, for the old, but we realized we don’t have anything for the news. With family on our mind, we looked to the origin of it all-- to the women in our lives who are right there, at that special moment at the creation of family. Today we celebrate with them. With food to fill their tummies (as if it needs more filling), presents to soothe their tired (and swollen) soles, toys to warm their babyies' souls, projects to provoke them and decorations to inspire creativity and merriment in all … Congratulations to all the expecting mothers out there.”

While the post doesn't give any details about Lively’s pregnancy, it does include an image of the film star smiling while cradling and admiring her burgeoning bump. The photo was taken by Lively’s brother, actor Eric Lively, 33. The child will be the first for Reynolds, 37, and Lively. The couple tied the knot in 2012 after one year of dating.  

The pregnancy news comes five months after a report surfaced that the couple was planning to start a family. “They want to have a baby very soon,” an insider close to the former “Gossip Girl” star told Life & Style. “She and Ryan would love to be pregnant by this year!” Despite Lively’s blossoming career in film ("The Age of Adaline" hits theaters in April), the insider said she wouldn't mind giving up fame in order to be a full-time mother. “Blake loves her acting life," said a source. "But she’s very content to stay at home and be a wife."

Reynolds last spoke about his desire to have a baby with Lively in the August 2013 issue of Allure magazine. “We’d love to have a big family,” he said (via ENews). “We both come from big families, my parents had four. Blake’s did five. A lot of people say it’s crazy, but we’ll only know when we're there, you know? We’ll walk through that fire pretty happily, I think.”