Meet Their Baby Boy! Alec and Hilaria Baldwin Reveal Fifth Child's Name: 'We Love You'

"He is perfect and we couldn't be happier," Hilaria Baldwin wrote in her baby boy's Wednesday birth announcement

Introducing Eduardo Pau Lucas Baldwin!

One day after announcing the arrival of their fifth child and fourth son together, Alec Baldwin and wife Hilaria revealed his moniker and birth details on Instagram.

"We would love to introduce you to Eduardo Pau Lucas Baldwin," Hilaria wrote, sharing an adorable snapshot of her newborn, looking alert. "Born Sept 8, 2020 at 7:46pm 🤍he weighed 7lbs 8oz🤍 His name means 'wealthy guardian of peace and light' 🤍. We love you baby Edu 🤍"

The Mom Brain podcast co-host and fitness expert, 36, announced her son's arrival (and teased his name reveal!) on Instagram Wednesday morning, alongside a photo of the couple in the hospital with their newborn.

"We had a baby last night. He is perfect and we couldn't be happier 🌟. Stay tuned for a name🤍," Hilaria captioned the sweet post.

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Hilaria Baldwin baby
Alec and Hilaria Baldwin's son Eduardo.

Alec, 62, shared the same photograph two hours later, writing in the caption, "Número Cinco está aqui ... (Para mi, número seis)," which translates to, "Number five is here ... for me, number six."

He added, "I love you, @hilariabaldwin. My karma is your karma. Your karma is mine."

The new baby joins big brothers Romeo Alejandro David, 2, Leonardo Ángel Charles, 4 on Saturday, and Rafael Thomas, 5, plus big sisters Carmen Gabriela, 7, and 24-year-old Ireland, Alec's daughter with ex-wife Kim Basinger.

Hilaria revealed that she was pregnant again in April, after having opened up about suffering two miscarriages — one in April of last year and another in November.

RELATED VIDEO: Hilaria Baldwin on Her Growing Family: Eventually We Will Stop!

Hilaria spoke with PEOPLE about her pregnancy in April, revealing at the time that she and her actor husband hadn't yet learned the sex of their baby on the way. But the yoga instructor hoped to eventually be able to give Carmen a baby sister.

She had been four months pregnant with a baby girl last year when she announced in November that she lost the child. The devastating news came just seven months after Hilaria suffered a miscarriage in April of last year.

"After the last experience, I do really dream about giving her a sister at some point," she said. "And who knows? Maybe this is going to be the last baby I have and maybe there will be another; I don't really know at this point. I don't really care to plan too much anymore. A healthy baby is such a blessing."

But ultimately, Hilaria thinks Carmen "is going to be fine with whatever," The Living Clearly Method author told PEOPLE. "And I think the boys don't actually care."

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