Ryan Lochte and Fiancée Kayla Rae Reid Expecting First Child

"Best news I've ever received," Ryan Lochte wrote on Instagram of his fiancée Kayla Rae Reid's pregnancy

Winning Olympic gold this summer might officially be the second-best moment of swimmer Ryan Lochte‘s 2016: he’s going to be a dad!

The 32-year-old is expecting his first child with fiancée Kayla Rae Reid, the couple announced on social media Wednesday.

“My Christmas gift came early this year, can’t wait for next year,” wrote Lochte alongside a photo of he and Reid in the pool. “Best news I’ve ever received #CLOUD9 #excited #family #love #2017.”

Reid, a Playboy model, also broke the big news on her Instagram with a similar photo.

“Just when you think you think you have it all figured out, life always surprises you with blessings when least expect it,” she said. “So excited to share this news with all of you! #weareprego #omg #2017.”

The happy parents-to-be first went public with their romance over the summer when Reid, 25, visited Lochte during the Olympic games – although things were then off-and-on between the pair.

Lochte later said that he relied on Reid’s support during his headline-making Rio scandal and Dancing with the Stars run, and revealed that they’d moved in together in September.

RELATED VIDEO: Ryan Lochte Is Engaged to Playboy Model Kayla Rae Reid

Lochte popped the question in early October, surprising Reid with a private helicopter tour of Los Angeles which lead to a sunset proposal near the Pacific Ocean.

Lochte proposed with a custom-designed platinum ring featuring a Radiant cut diamond, his rep confirmed to PEOPLE at the time.

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