Kathie Lee Gifford Details the Special Way She Found Out She's Becoming a Grandma

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Kathie Lee Gifford can't wait to be a grandma!

The former Today co-host, 68, announced on Monday that her son Cody Gifford, 31, and his wife, Erika Brown, are expecting a baby — and now she tells PEOPLE about the moment she found out the big news.

"I had just arrived home to begin my book tour on the Today Show the next morning," she says, adding that she was seated at the table with Cody and Erika, as well as longtime friend Christine Gardner.

"Cody and Erika handed both of us something that was wrapped and asked that we please open at the same time. It was a two-sided frame and mine read, 'Can't wait to meet you Grandma' on one side and on the other was a photo of Cody and Erika holding their ultrasound," she continues. "It took a moment to crystalize to me that this was their baby which meant that it was my baby too and I freaked and ran to hug Erika and so did Christine. To which Cody said, 'What about me?' "

Kathie Lee says she's still processing the news, telling PEOPLE: "It still hasn't hit me fully!"

While she's ecstatic to welcome her first grandchild, she says, "It isn't about me at all," adding: "This was about celebrating with my son and his beautiful wife and their love for one another. This is a blessing from God in His way and in His timing."

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In addition to her excitement about welcoming a new family member, Kathie Lee adds that she can't wait to see her son become a father.

"I have long believed just by watching my children with other children and babies for years now that they are both made for parenthood," she says. "And I'm so grateful that they both chose partners who are equally so."

With the newest addition, Kathie Lee says the family plans to "make our traditions as we go along!"

Cody and Erika, who first began dating in 2013, tied the knot in September 2020. A source told PEOPLE at the time that "just parents and siblings were in attendance."

The couple celebrated their one-year anniversary with a second wedding in September. Erika posted some of the special moments on Instagram, including a snap of her and Cody dancing together. Cody's sister Cassidy and her husband, Ben Wierda, also hosted a second wedding in November after getting married in an intimate ceremony in the groom's backyard in June 2020.

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Kathie Lee opened up about her children's intimate ceremonies with PEOPLE last year, saying, "Some people are postponing until they can have the big celebration, but my kids just wanted to be married."

She added that she could feel her late husband Frank Gifford's presence during the ceremonies. "At both weddings, we felt Frank just smiling," she says of the former NFL player, who died in 2015 at the age of 84. "He had an aerial view, I think."