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Nick Jonas and Priyanka Chopra 'Excited' to Be Parents, 'Wanted a Baby for Some Time': Source

Nick Jonas and Priyanka Chopra Jonas couldn't be more excited to begin their journey as parents.

The couple welcomed their first baby, a daughter, via surrogate on Saturday, Jan. 15, announcing the exciting news in coordinated Instagram posts on Jan 21.

"They both are truly eager to be parents," a music insider tells PEOPLE. "They are beyond excited."

Jonas and Chopra — who got married in December 2018, seven months after they began dating — had previously expressed interest in expanding their family.

"Nick and Priyanka have wanted a baby for some time," adds the insider.

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"This is a happy time for all. Nick and Priyanka are definitely ready for this new challenge in their lives. It is something they have both wanted," a music management source says. "Now is their time, and they could not be more ready to raise a child."

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Nick Jonas Priyanka Chopra
Nick Jonas Priyanka Chopra

Priyanka Chopra/Instagram

RELATED: Jonas Baby! Nick Jonas and Priyanka Chopra Welcome First Baby Via Surrogate: 'We Are Overjoyed'

The music insider adds that the pair "have been preparing" for a baby for quite some time.

The Sucker singer and the actress were already thinking of growing their family when they purchased their Encino, Calif. mansion together in 2019, according to a real estate source, who says the couple spent months renovating the residence to make it more family-friendly.

Jonas and Chopra's newborn joins a trio of cousins to play with, including Kevin Jonas' daughters Valentina Angelina, 5, and Alena Rose, 7, plus Joe Jonas and Sophie Turner's baby girl Willa, 1, whom they welcomed on July 22, 2020.

Adds the music management source: "The brothers are overjoyed and have also been eager for Nick to become a father and add to their family."

For more on Nick and Priyanka's baby girl, pick up the latest issue of PEOPLE, on newsstands Friday, or subscribe here.