It's a Boy! Congrats, Will and Kate!

After a month of hospital stakeouts, countless rumors and over two years after their April 2011 wedding, The Duchess of Cambridge has given birth to a baby boy! Weighing 8 pounds, 6 ounces, the new Prince of Cambridge is the couple's first child. He is third in line to the throne after his father Prince William and grandfather Prince Charles. He was born at 4:24 UK time, nearly four hours ago — talk about a well-kept secret. The news was released today at 3:36 EST via a press release, and quickly thereafter on an easel outside Buckingham Palace, as per royal tradition.

First-time grandfather Prince Charles is the first of the Royals to issue a statement since the birth of the child. "Both my wife and I are overjoyed at the arrival of my first grandchild," he said. "It is an incredibly special moment for William and Catherine and we are so thrilled for them on the birth of their baby boy." Congratulations to Will and Kate on the arrival of their son! Stay tuned for updates on the name and photos to come.

UPDATE:After Will released a brief statement last night, "we couldn't be happier", the couple released an official joint statement today thanking the hospital for their care and understanding over the past day. "We would like to thank the staff at the Lindo Wing and the whole hospital for the tremendous care the three of us have received," The statement read. "We know it has been a very busy period for the hospital and we would like to thank everyone - staff, patients and visitors - for their understanding during this time."

Currently, Kate's parents, Michael and Carole Middleton are at the hospital visiting their first grandchild. Will, Kate, and baby will make a formal exit from the hospital to give the media a chance to feast their eyes on the new heir, but it won't be before 6 p.m. UK time, or 1 p.m. EST. Kate's hairdresser has been seen entering the hospital (with a baby's car seat in tow!) earlier today, so a departure by the end of the day seems likely!