Giuliana & Bill Rancic Expecting First Child Together Via Surrogate

Bill Rancic and Giuliana Rancic step out at the 18th Annual QVC 'FFANY Shoes On Sale' at The Waldorf- Astoria in New York City on October 13, 2011 -- Getty Images

Giuliana and Bill Rancic's dreams of becoming parents are one step closer to reality!

The 37-year-old E! News host and "Fashion Police" co-host, who found out she had breast cancer in October, announced on Monday that their first child is due this summer via gestational surrogate.

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"It was pretty much one of the best moments of my life, if not the best moment of my life," Giuliana told Ann Curry on Monday's "Today" show, about learning that one of the embryos they stored prior to her cancer diagnosis had resulted in a pregnancy. "It was just another world, on another level."

"We are so thrilled that our prayers have been answered," Giuliana also told E! News, with Bill, 40, adding, "We are absolutely ecstatic to be sharing this with everyone who has been following our journey."

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The couple does know the sex of the baby, but they're staying mum on what color they'll be decorating the nursery.

"We're seeing how long we can keep it secret," she said on "Today."

Giuliana, who underwent a double mastectomy in December and is now cancer free, explained that the surrogate lives in another state, but that they accompany her to all of her doctor visits.

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"We see the baby grow and it's very exciting," Bill added.

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