"I have mixed emotions. Now that it's so far along, I'm over the hump … I'm excited to be there, to meet the baby, to not feel this way anymore, but I'm also a little sad," Spelling, 38, tells PEOPLE.

By peoplestaff225
Updated December 02, 2020 02:24 PM

It’s been a bittersweet ending to her pregnancy for Tori Spelling.

Although the actress is excited to welcome her third child with husband Dean McDermott next month, she is also savoring each second of this pregnancy – as it may be her last.

“I have mixed emotions. Now that it’s so far along, I’m over the hump … I’m excited to be there, to meet the baby, to not feel this way anymore, but I’m also a little sad,” Spelling, 38, tells PEOPLE at the Britax and Buick’s The Red CARpet Safety Event on Sept. 10 in Pacific Palisades, Calif.

“We think we want more kids, but you never know what the possibility of that is … and it’s such an amazing experience that women are so privileged to be able to go through.”

And while the couple have not ultimately decided whether they will expand their family – which already includes Liam Aaron, 4½, and Stella Doreen, 3 – even further, Spelling admits a fourth child isn’t completely out of the question.

“When we found out [we were expecting again], we were like, ‘Wahoo! Maybe we’ll have another one!‘ And then shortly after that I got so sick and I was like, ‘I’m definitely not having another one!'” she laughs.

“Now, here at the end, I’m like, ‘I think I could go for another one!’ We’ll see how the birth goes.”

Having opted for a delivery surprise, Spelling and McDermott have been busy putting together their list of baby name contenders. The result? They’ve agreed on a moniker if baby is a boy, but are stuck still searching for a girl’s name.

“We have a name picked out if it’s a boy,” she reveals, agreeing boys names are easier to decide on than girls. “We’ve been thinking of both names, and the name that we have picked out if it’s a boy is actually a name that we were going to use before we knew what Stella was, and would have used if she had been a boy.”

As for Liam and Stella’s reaction to baby-on-the-way, Spelling is happy that each have taken the news in stride.

“They’re both very aware, so when my breath gets taken away by a contraction, or if I’m like, ‘Oww! The baby’s kicking!’ they’ll be like, ‘Baby, go to sleep. Don’t hurt Mommy!'”

However both kids have made their priorities clear when it comes to their future sibling – and their mama!

“It’s really cute the way they both are, but [Liam’s] definitely more concerned with taking care of me right now and [Stella’s] more long-term. She’s like, ‘I’m going to feed that baby and I’m going to change that baby!'”

— Anya Leon with reporting by Reagan Alexander