"The wedding is not this week," Kasseem "Swizz Beatz" Dean told PEOPLE at the New Music Seminar in New York City Wednesday night.
Shooting down online reports of a lavish ceremony to be held on a yacht, the rapper says, "People are very creative [with gossip], but it's cool. We have fun with this stuff. [The rumors are that] we're taking a boat to do this and we're like, 'Man, who's paying for that?' " he jokes.
Swizz Beatz also debunks reports that he'll manage Keys, who recently parted ways with her longtime manager Jeff Robinson. "I am one trillion percent not managing my fiancée. I'm not a manager," he says.
Ready for ParenthoodBut rumors aside, the two musicians are focused on the impending birth of their first child together. "Alicia is definitely one of those great parents-to-be. I'm definitely one of those great parents as well," says Swizz Beatz, who has two sons, Kasseem Jr., 3, and Prince Nasir, 9, from previous relationships.
So, will a son or daughter be joining the bunch? "We don't know. We're just going to let that be magical. Whatever we're blessed with, boy, girl, twins, that baby is being born to blessed parents," he said.
They may not know the gender of the baby – or babies – yet, but if Dean's parenting is any indication, the child will grow up appreciating art like the rest of the family.
"[My sons] pick up things you least expect. You ask my 3-year-old, he'll tell you [about Takashi] Murakami and [Jean-Michel] Basquiat. My oldest son Nasir is into all types of artists and he likes to write movies," he says.
He adds: "My youngest son picked up Basquiat just because I have a video playing in my art studio. I did a portrait of him and I have photos. One day he pointed to a tattoo on my arm and goes, 'Oh yeah, you have Basquiat on your arm,' and I asked, 'How do you know that?' He's like, 'Duh! He's only everywhere.' "
As for how Keys is preparing for her new role as mommy, Swizz Beatz says, "She's super ready. Super calm. Super glowing. Super positive. Super happy."