Bill Rancic and Giuliana Rancic at The Beverly Hilton Hotel on May 22, 2012 in Beverly Hills, California. Credit: Jason LaVeris/FilmMagic

Break out the blue cigars!

With just a few short months to go until becoming first-time parents, Giuliana and Bill Rancic have revealed that the baby they'll welcome with the help of a gestational surrogate will be a boy.

"We are beyond excited to be having a little boy," Bill tells E! News. "We are so ready for everything that comes with being a new mom and dad!" his wife -- who shared their happy news with family and friends at a baby shower in Los Angeles Sunday -- added. "We just can't wait!"

When their child arrives at the end of the summer, it will be a dream fully realized for breast cancer survivor Giuliana, 37, and Bill, 41. "We are so blessed!" the E! News anchor and Fashion Police cohost told Us Weekly in May. "This truly is a miracle baby."

Traveling from their homes in Chicago and Los Angeles to be with their surrogate during her doctor's appointments, the couple cannot wait to be in the delivery room to witness their baby's first breath.

Says Giuliana: "It will be the best moment of our lives."