This will be the third child for the Today host and wife Annette Roque

Matt Lauer and wife Annette are expecting their third child.

The Today host, 48, confirmed the news in an interview with Sunday’s New York Times magazine in a story about his soon-to-be cohost, Meredith Vieira. He and Annette, 40, are already parents to son Jack, 5, and daughter Romy, who turns 3 in October.

“I was on Today for five years before I had children,” Lauer tells the Times magazine. “And back then the job took up a larger slice of the pie graph of my life than was healthy. When I had kids, that immediately changed. It flipped.”

Lauer and the former Annette Roque, a model turned stay-at-home mom, wed in October 1998.

This spring, after it was announced that Today cohost Katie Couric was leaving, Lauer extended his contract with NBC to stay on the show through 2011.

But work is not his top priority. “His wife and children are at the center of his universe,” Lauer’s former Today boss, Jeff Zucker, told PEOPLE in 2004, “and everything revolves around that.”

Indeed, Lauer told PEOPLE, “Now I define myself by what happens when I walk in that door after work. (Jack) looks at you and goes, ‘Papa.’ He wants a hug, and then he wants to show you his (toy) planes. My son is a rascal. He’ll have a glass of water in the living room. You’ll say, ‘Jack, do not pour that water.’ And he’ll look at you and he’ll pour it.” Little sister Romy, Dad said, “is the polar opposite. Incredibly sweet.”