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Big news from Alicia Keys: she's going to be a mom!

Following much speculation, a rep for the Grammy winner confirms to that Keys, 29, and producer beau Swizz Beatz are expecting a baby and are engaged to be married later this year.

A pal tells Us, "They are very happy."  It's the first child for the singer; Beatz, 31, is father to sons Kaseem Jr. and Prince, both from prior relationships.

"[Alicia] is with the man who has inspired so much of her music and her album [The Element of Freedom]," another friend told Us of Beatz back in January.

And Keys' husband-to-be is equally smitten. "What we have is so precious," Beatz gushed to the New York Daily News last year.

Of motherhood, Keys recently admitted to Scotland's The Daily Record, "I absolutely am very interested in starting a family. It is one of the most beautiful experiences to have in this life and I am looking forward to it when it is my time."