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Penelope Cruz and husband Javier Bardem are proud new parents!

A source tells X17online exclusively that Penelope entered an LA area hospital Monday to give birth to the couple's first child.

Javier and Penelope first met on the set for their Spanish film Jamon, Jamon, back in 1992. They began dating in 2007 and tied the knot in the Bahamas last July.

Congrats!