Ashanti has some “Happy” news! The 43-year-old singer is not only engaged to Nelly, but they also have a baby on the way. “This new year of my life is such a blessing full of love, hope and anticipation,” she gushed. “Motherhood is something that I have looked forward to, and sharing this with my family, my fiancé and loyal fans, who have been so supportive of my career, is an amazing experience.”

This will be Ashanti’s first child and Nelly’s fifth. The rapper, 49, shares two kids, Chanelle and Cornell, with his ex-girlfriend Channetta Valentine, and he adopted niece Sydney and nephew Shawn after his sister, Jackie, died in 2005. “Ashanti is over the moon about the pregnancy, as is Nelly,” a source exclusively tells Life & Style. “His kids are grown, so he’s super excited about having a baby of his own again.”

It’s a full-circle moment for the couple, who dated on and off from 2003 to 2013 before reconnecting a decade later. “Ashanti and Nelly are older, wiser and, of course, more mature this time around,” adds an insider. “Their history together has set such a foundation, and it truly feels like everything was meant to be.”