The 57-year-old rapper - who already has two children, LaTesha, 39, and Ice, 23, from past relationships and two grandchildren - is set to be a father for the third time as his wife of 14 years is pregnant, sources confirmed to E! News.
Coco, 36, has previously spoken of her desire to have a child with the 'Law & Order: SVU' star.
She said: ''I don't want to be like those 80-year-old women with no one around them.
''I want to have something I gave birth to early in life and be like, 'You can help me out now!' ''
And the blonde beauty has also admitted she felt ''pressure'' to have a child of her own.
She previously said: ''There's a lot of peer pressure for me. It's not just my family that's giving it, it's the world...When the time's right, I will.''
Her husband added: ''At the end of the day, it's Coco's call. She puts in the order and I can do the deed.''
The happy news came shortly after it was revealed the couple have landed their own daily talk show, 'Ice and Coco', which will premiere on Fox channels on August 3.
Speaking about the show, Ice - whose real name is Tracy Lauren Marrow - said: ''Three words to describe our show would be real, crazy and funky. This show reflects our life. It will be hip, pop culture, fashion, everything.''
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