06/13/2005 at 01:00 AM EDT
At 60, Rod Stewart is still bold enough to keep his locks bleached and spiky and his trousers snug. And if that weren't enough to keep the twice-married father of five forever young, he's about to brave parenthood all over again. On June 1 the rocker and fiancée Penny Lancaster, 34, announced they were expecting a baby in December. "Penny and I wanted to start a family as soon as possible," says Stewart, who popped the question to the lingerie model atop the Eiffel Tower in March. The pending bundle of joy means the couple will put wedding plans on hold for now. "We decided to plan our wedding after the birth of our baby," says Stewart. "It is likely the wedding will take place in the spring of 2006." And Stewart—who already has kids Kimberly, 25, and Sean, 24, with first wife Alana Stewart; Ruby, 17, with former girlfriend Kelly Emberg; and Renee, 13, and Liam, 10, with second wife Rachel Hunter—will take a break from his music tour to focus on family. "Following the birth," he says, "I plan to take a year off so that Penny and I can spend time with my children and our newborn." For now, he's content experiencing the joys of pregnancy with his bride-to-be, whom he started dating in 1999, shortly after he split with Hunter. "Penny is feeling wonderful, is very happy and looks more radiant than ever," says the crooner. First-time mom Lancaster is likewise thrilled. "What a dream come true," she says of the new addition. "First Rod's romantic proposal, and now starting a family with the man I so adore."