CONGRATULATIONS Pe y Javier! I’m so happy for this beautiful couple and can’t wait to see the newest addition to their family. Reports from Yahoo! & People have come in that Ms. Cruz is indeed going to have a bundle of joy sometime in 2011! The pregnancy was first confirmed by UsMagazine.com

The question of whether it’s a baby bump or a costume has been answered: “Penelope is 4½-months pregnant,” reps for Penélope Cruz and husband Javier Bardem confirm.

Photos of Cruz, 36, on the set of her upcoming movie, Pirates of the Caribbean: On Stranger Tides, had sparked buzz that the recently married actress was expecting.

Cruz was snapped in Puerto Rico sporting a flowing top and a possible bump. [Source]

Penelope Cruz is pregnant!

A rep for the Oscar-winning actress, 36, has confirmed to UsMagazine.com that she is four-and-a-half months pregnant.

Wearing a flowing top, Cruz sported a baby bump recently on the Puerto Rican set of her upcoming movie, Pirates of the Caribbean: On Stranger Tides.

In July, she wed Spanish actor Javier Bardem, 41, in a hush-hush wedding in the Bahamas. The two costarred in the Woody Allen comedy Vicky Cristina Barcelona, for which Cruz won a Best Supporting Actress Oscar in 2009.

Bardem’s sister Monica recently said a baby will likely be on the way for the newlyweds.

“They have shown the world they are in love,” she told Hola!, “and it would be only normal and natural to have children.” [Source]

Sorry we’ve had basically no new news or images of Pe but she’s pretty much filming Pirates and I’m leaning towards no longer posting candids of her.

This will be one of those rare times where I cover Penélope’s personal life because I think its just that personal and private. But I adore these two and this is really beautiful. This event took place back in late May at the Cannes Film Festival.

Javier Bardem won the best actor award at Cannes for his work in the movie Biutiful.

Now, on to the mushy stuff.

Javier publicly declared his love for Penélope Cruz for the first time when he accepted the award!

He said:

“I share this joy with my friend, my companion, my love, Penelope. I owe you a lot and I love you so much.” [Source]

So beautiful now make sure you click the Source to see two photos – one of Pe and the other of Javier.