ASHLEE SIMPSON IS PREGNANT!

Word on the street is that Pete Wentz and Ashlee Simpson will soon be expecting their first born child! The couple have been together for about a year and a half.

Now, OK! magazine is reporting that the pair will expect their baby in late October. So if we do the math, that means Ashlee was sperminated some time around January!

They sure are precise, or so they claim, OK!.

A source says that the pair are "perfect for each other as any two people could be. They don't spend a minute apart if they can possibly avoid it and are over the moon about the baby."

As for the wedding, that should be coming up soon. You know Poppa Simpson is gonna make them wed before a baby pops out! He is after all a former minister!

The friend adds, "They're planning on something in the Santa Barbara area probably by the end of May. Ashlee would like to walk down the aisle before she's showing – although she is very cute the way she is always checking out her belly now and asking everyone, 'am I showing yet?' She's leaning towards Vera Wang for her gown. Pete and his groomsmen are probably going to be in Dolce & Gabbana."

As for the wedding bands, the friend continues, "Pete may personally design their wedding bands. He designed the diamond and silver 'promise ring' he gave Ashlee last October."

The maid of honor is said to be none other than big sis Jessica Simpson. Why not/ It's not like she's doing anything!

The friend adds that "I don't think Jessica and Tony are that far behind!"

I Love chatty Kathy's! Keep talking!!

When Ashlee shared the news privately with Jessica, the friend adds, "I think there might have been a little concern about possibly jealousy but Jess couldn't have been more wonderful. She is very, very happy for Ashlee."

As for momma and poppa Simpson, they received the news from Ahslee and Pete together.

The friend continues, "Tina is super, super happy. Joe was his usual practical self. His first reaction was to worry how they were going to 'deal' with it, meaning all the real-life decisions that had to be made. But he couldn't help but be won over because Ashlee, Pete and Tina were all so happy."

Joe needn't worry about his daughter and son-in-law-to-be handling it. They're living in Ashlee's Hollywood Hills home, which has four levels and built into a hillside. "They are already talking about finding something more kid-friendly."

Seems like there's lots of good things coming her way. Next week on April 22nd, her Ashlee's next album, Bittersweet World will be released, and the same day her shirt line for Wet Seal will hit the stores.

And the friend continues, "These two love each other so much, are so happy about becoming parents and are fortunate enough to have really supportive families on both sides. They'll figure it all out." Congrats to the happy couple.

Ashlee is currently on the cover of this week's popular gay rag, HX (or as they like to call it on Will & Grace, Homo Extra. I wonder if the baby will have Ashlee's old nose???