Pete Wentz is going to be a dad. Again! The 34-year-old Fall Out Boy bassist is expecting a child with girlfriend of nearly three years Meagan Camper. He shared the happy news via his Instagram on February 17.

We’re super excited to announce we’re expecting a baby!,” Pete captioned a photo of himself and Meagan, hands intertwined and sharing a sweet smooch. Pete has his hand held tenderly over his model girlfriend’s belly, where there appears to be a slight bump.

Although the news might be a surprise to Fall Out Boy fans, a source tells People that Pete and Meagan have actually been “planning on this for a while.” They’re “really excited” for Pete’s son Bronx to have “a new little buddy.”

Bronx Mowgli, of course, is Pete’s 5-year-old son with ex-wife Ashlee Simpson. He and Ash split back in 2011. While Pete has confided how divorce left him paranoid and relying on pills, he seems in a much happier place now and says he and Meagan talk marriage “a lot.”

“I feel really lucky,” he added during a recent stop by The Wendy Williams Show. “It’s really interesting when you’re in a relationship with somebody who’s truly my best friend. I talk to her about everything.”

Now add baby names to that list!

Sources: Pete Wentz on Instagram, People, Us Weekly, The Wendy Williams Show

Elisabeth Kramer is an Assistant Editor at Wetpaint Entertainment and our resident Downton Abbey expert. Follow her on Twitter and Google+!