Gisele Bündchen Is Pregnant with Baby No. 3, Her First with Boyfriend Joaquim Valente (Exclusive)

Gisele Bündchen is pregnant!

The model, 44, and boyfriend Joaquim Valente, 37, are expecting their first baby together, Bündchen's third, a source close to Bündchen confirmed to PEOPLE on Monday, Oct. 28.

"Gisele and Joaquim are happy for this new chapter in their life and they're looking forward to creating a peaceful and loving environment for the whole family," the source tells PEOPLE in a statement.

Bündchen has been dating the Jiu-Jitsu instructor since June 2023. Their baby will join Bündchen's son Benjamin Rein, 14, and daughter Vivian Lake, 11, who she shares with ex-husband Tom Brady.

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Bündchen, who served as a Victoria's Secret Angel from 1999 until 2006, was notably absent from the 2024 Victoria's Secret Fashion Show held on Oct. 15, despite a variety of past Angels' returns.

Bündchen and Valente were first spotted together in November 2022, when the pair visited Provincia de Puntarenas (a province located on Costa Rica's coast) with her two kids.

After originally denying a romantic relationship with her trainer, a love connection later blossomed between the pair, and in February 2024, a source confirmed to PEOPLE that Bündchen and Valente have been dating since June 2023.

In June 2024, a source told PEOPLE that the supermodel has “blossomed” since her split from Brady. “She is secure and happy, and so busy with her life that she doesn’t have time to dwell on the negatives out there,” the source said. 

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In February, another source told PEOPLE, "They have been dating since June. They're taking it slow. They started out as great friends first. She's very private about this and wanted to keep it quiet while they got to know each other."

Brady and Bündchen divorced in October 2022 after 13 years of marriage. The exes agreed to joint custody of their children.

Brady, 47, is also dad to son John "Jack" Edward Thomas, 17, with his ex-girlfriend, actress Bridget Moynahan.