Tori Spelling and Dean McDermott Welcome a Boy
Liam Aaron McDermott, who was born in a Los Angeles hospital, weighed 6 lbs., 6 oz, according to the couple's rep.
Spelling's mother Candy Spelling was at the hospital. The baby arrived just as the new mother is reconciling with her own mom after a long estrangement.
"Words can't describe the joy and elation I feel at this truly happy event," Candy tells PEOPLE exclusively. "I am looking forward to doting on my new little grandson and all the memorable fun that comes with it."
A rep for the couple adds: "They're all really happy and everybody's resting now. Tori and the baby are healthy."
The baby's middle name of Aaron is a tribute to Spelling's late father, legendary TV producer Aaron Spelling, who died in June.
Tori's brother, Randy, said in a statement Wednesday, "I'm excited to be a first-time uncle and wish my sister all the best."
Just last month, Tori Spelling, 33, told PEOPLE: "I am ready, ready, ready to meet my little man!"
Spelling and McDermott revealed exclusively to PEOPLE in December that they were expecting a boy. "Little boys are a ton of fun," Spelling said at the time. "We play tunes for him and watch him kick. He already loves the Dixie Chicks! We went to their concert and he kicked the whole time."
This is the first child for Spelling; McDermott, 40, has a son, Jack, 8, with ex-wife Mary Jo Eustace.
McDermott and Spelling met in the summer of 2005 while in Canada filming the TV movie Mind Over Murder and tied the knot in Fiji the following May.
The couple have already set up a nursery decorated in turquoise and chocolate brown, says Jo Gartin of Love Luck and Angels, who planned their baby shower for 50 friends last month in West Hollywood. At the event, Spelling happily let her friends rub her belly. "I've loved being pregnant, but I'm ready to give birth," she told PEOPLE with a laugh. "I can't wait to be a mom and hold this little baby in my arms."
Plus, the new parents also have another baby to look after – their newly renovated bed and breakfast, Chateau La Rue, in Fallbrook, Calif., about 100 miles southeast of Los Angeles. The inn, named after Spelling's pug Mimi La Rue, also serves as the focus of the couple's new reality show, Tori & Dean: Inn Love, debuting on the Oxygen network on March 20.
For more on Spelling's pregnancy fashion, click here.