Megan Fox and Machine Gun Kelly have been excited to welcome their first baby together, a source tells PEOPLE, following reports that the couple has ended their relationship.

News of the former couple’s split comes nearly a month after Fox announced that she and Kelly were expecting their first child together. Fox, 38, shared her pregnancy news on Instagram on Monday, November 11, tagging Kelly, 34, in the photo showing off her baby bump.

“They were both excited about the baby,” the source tells PEOPLE, adding, “They really wanted this baby.”

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It will be Fox’s fourth child and Kelly’s second. Fox is already mother to sons Noah, 12, Bodhi, 10, and Journey, 8, with ex-husband Brian Austin Green, while Kelly is father to daughter Casie, 15.

Earlier this month the Jennifer’s body alum opened up to PEOPLE about the lifestyle changes she’s made since announcing the exciting baby news.

“Being kid #4, I’ve already learned all the tricks to making my body feel good physically and mentally,” Fox told PEOPLE. “I’m sleeping and exercising and sticking to my healthy diet and lifestyle as always.”

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Kelly, born Colson Baker, recently shared an update on his new music for the first time since Fox announced her pregnancy to the world, noting that he’s about to become a father again.

In a post on ”

“After all, I’ll soon be a father again!” Kelly ended his contribution in a friendly manner.