Plus, a friend of the ailing actress denies that the star is down to 86 lbs.

By Champ Clark
Updated April 20, 2009 04:55 PM
Credit: Jim Smeal/WireImage

Farrah Fawcett is in a life-or-death struggle with cancer – but the star is well enough to throw a birthday party for longtime partner, Ryan O’Neal, a friend of the actress tells PEOPLE.

“There will be cake and champagne,” says Fawcett pal Alana Stewart, describing the small celebration for O’Neal’s 68th to be held at Fawcett’s home Monday evening. “Ryan has really been there for Farrah in such a wonderful way.”

Stewart also clears up reports that the actress is down to only 86 lbs. Fawcett’s son, Redmond O’Neal, 24, told a judge last week during a hearing stemming from drug charges that his mom “weighs about 86 pounds.”

Says Stewart, “Farrah is not 86 pounds. Redmond is young and overreacted a little. Farrah has lost weight, but not that much. No, no, no.”

Stewart describes Fawcett as being in good spirits since she was released from the hospital on April 9 for internal bleeding not directly related to her cancer. “I just saw her last night and she looked better,” says Stewart. “She had color in her face and was talking and laughing.”

Along with birthday wishes, one topic of conversation that is sure to come up between the Fawcett and O’Neal: Their son Redmond, who is being held in jail without bail but will likely return to rehab following an April 30 hearing.

“They are hoping for the best outcome for Redmond,” says Stewart. “He’s not a hardened criminal by any means. He’s a kid with a drug problem, who is very much wanting to get sober and have a life. Redmond is a sweet, funny bright kid and he and his mother are very, very close.”