Prince Albert and Princess Charlene are pregnant. According to Daily Mail, the Royal Palace of Monaco confirmed the News. In a joint statement, the 36-year-old South African former Olympic swimmer and her husband, 56, the royal couple expressed their 'immense joy'.

"Prince Albert and Princess Charlene have the immense joy to announce they are expecting a happy event. The birth is due at the end of the year," the brief statement says.

The Associated Press reported that the throne of Monaco would pass to Princess Caroline, Albert's older sister until the baby is born.

"The constitution had been changed to allow Caroline a claim during Prince Albert's tenure because subjects were nervous he wouldn't produce an heir after years of high-profile rendez-vous with the beautiful and famous, said to include Brooke Shields, Claudia Schiffer and Naomi Campbell," report says.

Prince Albert already has two children from previous relationships, a 22-year-old daughter Jazmin Grace Grimaldi, and his 10-year-old son Alexandre Coste.

According to ABC News, Prince Albert's older children, unlike this coming baby, were born out of wedlock and, thus, cannot be heirs to the throne.

BBC News reported that Prince Albert met Charlene Wittstock when he was presiding over a swimming race in 2000. She then went on represent South Africa in the 2000 Sydney Olympics. They officially made their debut as a couple at the 2006 Winter Olympic Games in Turin, Italy.

Since her marriage, Charlene is titled as Her Serene Highness The Princess of Monaco. The previous holder of the style was her husband's mother, Grace Kelly.

Prince Albert is the son of the late Prince Rainier III and actress Grace Kelly, who died after a car crash in 1982. Prince Albert II has been Monaco's ruler since the death of his father in 2005.

Monaco covers about 2sq km and is the world's smallest independent state after the Vatican City.