The moment is finally here: Ashlee's having her baby! "Pete texted his friends last night that Ashlee is in labor!" an insider tells Life & Style.

Plus, Pete posted Friday on his blog that he would have to cancel an interview that was intended to take place on Saturday night. "Due to breaking news and scheduling conflicts I will not be appearing on Larry King Live tonight," he blogged.

Best wishes for a safe delivery and congrats to the happy couple!