Babies

Lisa Marie Presley Is Pregnant

03/07/2008 at 12:10 AM EST

Lisa Marie Presley Is Pregnant
Lisa Marie Presley
Mike Flokis/Headpress/Retna
Lisa Marie Presley is pregnant with her third child and due in the fall, her rep confirms to PEOPLE.

"The couple are incredibly overjoyed," the rep says.

This is the first child for Presley, 40, and her husband, guitarist and music producer Michael Lockwood, 46, who were married in Japan in January 2006.

Presley has two children, daughter Riley, 18, and son Benjamin, 15, with ex-husband Danny Keough.

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