Supermodel Miranda Kerr and hubby, Snapchat billionaire Evan Spiegel, are expecting their first child together! It's the second child for Kerr, who has son Flynn, 6, with ex-husband Orlando Bloom.

Kerr, 34, and Spiegel, 27, were married May 27 at their Brentwood home after announcing their engagement in July 2016.

Amid the happy news is some not-so-happy news for Spiegel this week -- he just lost more than HALF A BILLION DOLLARS when Snapchat's quarterly earnings were lower than expected and the social media app's stock plunged! So $560 million dollars later, maybe the baby news will help cheer up the young entrepreneur ...