Penelope Cruz, Javier Bardem's baby boy confirmed (UPDATED)

It sounds like Javier Bardem has more good news in his life, following a nomination for an Oscar for Best Actor in a Motion Picture. Hola magazine is reporting that Javier and Penelope Cruz have welcomed a baby boy into the world last Saturday (Jan. 22) at Cedars-Sinai Medical Center in Beverly Hills.

UPDATE: Entertainment Tonight has confirmed the birth with the couple's rep. "Penélope and Javier welcomed their first son into their family last week. Both parents and baby are doing great."

Hola also reports that their families flew in for the birth -- Javier's mother and Penelope's mom and siblings were among the family members there. There is no word yet on the name for their first child.

The couple has been dating since 2007 and married in 2010 in a secret Bahamas ceremony. There has been no official word from either actor's reps about the birth of their son. They announced the baby news in September 2010.

Congratulations to Penelope and Javier on their new baby boy!