Penelope Cruz and Javier Bardem Expecting Baby No. 2

Penelope Cruz, 38, is having a bun in the oven again, New York Post first reports. This is going to be her second child with her actor hubby Javier Bardem whom she married in July 2010 at a friend's home in the Bahamas.

A source tells E! News that the "Vanilla Sky" star is "around three months" pregnant. The bundle of joy will join big brother, Leonardo Encinas Bardem, who was born in January 2011 at Cedars-Sinai Medical Center in Los Angeles.

Penelope is reportedly having a vacation with her husband, 43, on Johnny Depp's private Caribbean island off the coast of the Bahamas. She's especially thrilled because her younger sister, Monica Cruz, is also expecting her own baby through artificial insemination.

The "Vicky Cristina Barcelona" actress got pregnant with her first child while shooting "Pirates of the Caribbean: On Stranger Tides". When her baby bump started to show, Monica was hired to stand-in for long distance scenes.

"It is a revolutionary experience," she said of motherhood. "That's the best way I can describe it. It transforms you completely, in a second. Nature is very wise and gives you nine months to prepare, but in that moment, when you see that face, you are transformed forever."

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