WATCH: Bill & Giuliana Rancic: Our Baby Prayers Were Answered

After struggling to conceive for three years, the couple announced on Today that they're expecting a child via gestational carrier

After a tough few years plagued by infertility issues, a miscarriage, failed IVF treatments and a battle with breast cancer, Giuliana Rancic finally has a big reason to rejoice. The E! News host and her Celebrity Apprentice-winning husband Bill revealed on the Today show Monday morning that they're expecting their first child together! (Watch the announcement below.)

"We are finally having a baby -- finally!" Giuliana told Today's Ann Curry, a huge smile spreading across her face. The child is due in late summer via gestational carrier, which means that the Rancics will be the baby's full biological parents.

"It was pretty much one of the best moments of my life, if not the best moment of my life," Giuliana, 37, said of finding out that one of the two embryos implanted in the carrier had taken. "To finally get that call from the doctor, like... 'You're having a baby!" -- it was just on another world, another level."

Bill, 40, agreed wholeheartedly. "It was pretty emotional because this was it, this was our last stop," he said. "We had those two embryos that we'd banked prior to learning about the breast cancer. With the medicine that she's going on, this was our last effort -- so the prayers were answered."

Bill and Giuliana already know whether their prayers were answered with a little boy or a girl, but they're not quite ready to share the baby's sex with the world. "We're seeing how long we can keep it secret, so we haven't told anyone yet," Giuliana said.

The couple also emphasized their joy in statements released to E! News. "We are so thrilled that our prayers have been answered," Giuliana gushes. Adds Bill: "We are absolutely ecstatic to be sharing this with everyone who has been following our journey."

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