Morgan is already dad to three grown sons with ex-wife Sabrina, whom he divorced in 2009 after 23 years of marriage. The actor announced his engagement to Wollover, 26, in September 2011 after popping the question six months earlier.
"We were in San Francisco," Wollover explained to Ryan Seacrest of how Morgan proposed. "It wasn't anything crazy. He was on bended knee."
Morgan's baby news comes at a good time as the series finale of his show 30 Rock airs on NBC Thursday, Jan. 31. In a recent interview with Rolling Stone about life after 30 Rock, Morgan said he hopes to have a daughter one day.
"You know what happiness is? Happiness is a simple thing, man," he said. "It's having something to look forward to."