Naomi Watts and Liev Schreiber welcomed their first child on Wednesday, a baby boy named Alexander Pete Schreiber!

Alexander was born at 3:59 p.m. in Los Angeles, weighing in at 8 lbs., 4 oz, and is 22.5 inches long.

Last weekend, Naomi and Liev threw a baby shower at their Brentwood, Calif. home.

Says an insider to Life & Style, “This is a dream come true for both of them and they’ve done everything in their power to make it as special as possible, right down to staying in the dark about the baby’s sex right up until Naomi gave birth.”

Congrats to the happy couple!!

Naomi Watts and “fake husband” Liev Schreiber celebrate the impending birth of their baby by having a baby shower at their home in Los Angeles on Sunday afternoon with 40+ friends and family members.

Celebrity guests included fellow pregnant pal Isla Fisher (Sacha Baron Cohen’s fiancee), Kate Hudson and Robin Tunney (Prison Break).

Naomi is due later this month while fellow Australian actress Isla is due this fall.

25+ pictures inside for a peek inside Naomi Watts‘ baby shower… More Here! »

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Naomi Watts and boyfriend Liev Schreiber have reportedly tied the knot, according to Entertainment Tonight.

“We are married. You got it first. Break the story!” Liev told ET on Sunday night at the Tony Awards at NYC’s Radio City Music Hall.

Naomi, 38, and Liev, 39, are expecting their first child together in August.

As of Monday, Naomi wasn’t wearing an engagement or wedding ring but the Aussie actress was wearing a huge sparkly at the Tonys! Liev is also known to play pranks on the media. TIFWIW.

UPDATE: Liev’s rep confirms it was just a joke. Aren’t jokes supposed to be funny? More Here! »

Two big thumbs down!

Liev Schreiber puffs away on his cigarette while walking with his very pregnant girlfriend Naomi Watts on Monday morning around the SoHo district of New York City.

BOO SMOKING AROUND A PREGNANT WOMAN! BOO!!!!!!! BOOOOOOOOOOOO!!!!!!!!

Naomi, 38, and Liev, 39, just attended the Tony Awards last night. The couple are expecting their bundle of joy later this summer.

Soon-to-be mom Naomi Watts and boyfriend Liev Schreiber stylishly sashay across the red carpet at the 2007 Tony Awards at NYC’s Radio City Music Hall on Sunday.

Liev was nominated for Best Performance By a Leading Actor in a Play for his portrayal of shock-jock Barry Champlain in Talk Radio. Unfortunately, he lost out to Frank Langella in Frost/Nixon.

The Aussie actress and Broadway star are expecting their little one later this summer. More Here! »

Mom-to-be Naomi Watts heads out of her West Village apartment (left) looking very very pregnant on Thursday in New York City.

To the right, Naomi, 38, had lunch with a real estate agent from Corcoran Realtors at Cafe Gitane in SoHo on Wednesday. Looks like the Aussie actress needs a bigger place to fit a nursery for the little one she and boyfriend Liev Schreiber are expecting late this summer.

20+ pictures of a very pregnant Naomi inside… More Here! »

Naomi Watts in Zac Posen Fall 2007.

To the right, Belarusian supermodel Maryna Linchuk.

Who wears it be — NAOMI WATTS or THE RUNWAY MODEL?