Tori Spelling and Dean McDermott Welcome Son Beau Dean

It’s a boy for Tori Spelling and Dean McDermott!

The spouses of 10 years welcomed their fifth child together on Thursday, March 2, her rep confirms to PEOPLE exclusively.

Son Beau Dean McDermott was born at 1:48 p.m., weighing 5 lbs., 12 oz. He measured 18½ inches long.

“We are over the moon in love with baby Beau. He is a true blessing and his brothers and sisters were overjoyed to meet him! We are all truly grateful for our big beautiful and healthy family,” Spelling, 43, tells PEOPLE.

Spelling and McDermott’s newest addition joins siblings Finn, 4½, Hattie, 5, Stella, 8½, and Liam, 9½. McDermott, 50, also has an 18-year-old son named Jack from his previous marriage.

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The former reality star couple revealed their baby news exclusively to PEOPLE in October, with a sweet family photoshoot and lots of candid thoughts about expanding their brood.

“It was a total surprise,” Spelling told PEOPLE at the time. “But we always wanted a big family. I’m really excited.”

While time has seemed to go by fast for the actress, author and blogger, she says she and her husband are ready for another little one around the house.

“Dean was saying, ‘We just got Finn out of diapers; I thought we were in the clear!’ ” Spelling said with a laugh. “For the first time this year, they’re all in school. So it’s like, wow. We’re basically starting over.”

Thankfully, Spelling did not have to endure placenta previa — a condition in which the placenta blocks the cervix, which she experienced during her pregnancy with Finn — this time around.

“We were so happy once we found out,” she told PEOPLE in October. “I thought if we had another baby, my life could potentially be in danger.”

Added McDermott, “The doctor said that considering everything that happened the last time, this is a miracle baby that Tori got pregnant and that it’s okay.”

RELATED VIDEO: Tori Spelling Is Pregnant! Star Expecting Fifth Child with Dean McDermott

The new mama of five was the guest of honor at a baby shower in February, hosted at the Hotel Bel-Air in Los Angeles by mom Candy Spelling and planned by celebrity event designer Mindy Weiss.

The bash featured blue hues everywhere — including in the table settings, balloons and even blue lemonade, served in milk bottles wrapped with “diapers” — along with a working train that made its way around the guest table during the festivities.

“A weekend toast for all! This is another great pic from last week’s baby shower. What a happy celebration,” Candy, 71, captioned a “latergram” of herself toasting her daughter at the party.

Spelling and McDermott revealed they were expecting a son in December, with a video showing their blue-decorated Christmas tree.

“Well, it’s a tie-breaker … boys win” the Beverly Hills, 90210 alum said in the clip. “We’re just going to have to have one more, then.”

Added Spelling of the unique reveal, “With Liam and Stella, we found out at the doctor’s office. Hattie and Finn we didn’t find out until they were born. So this is the first reveal. We really wanted to do it with the kids because they were so excited and we wanted to do it as a family.”

Although the new baby was the result of a surprise pregnancy, Spelling told PEOPLE she couldn’t be happier with the way things turned out.

“This baby happened at the best time,” she said. “Nothing is ever perfect, but I’m so madly in love with my husband and with our kids. The idea of adding to that is such a blessing.”