Gisele Bündchen, who is expecting her third child with boyfriend Joaquim Valente, is “excited to embrace this new chapter openly," a source exclusively tells PEOPLE.

The news of Bündchen's pregnancy was confirmed on Oct. 28, with a source telling People at the time, "Gisele and Joaquim are happy for this new chapter in their life and they're looking forward to creating a peaceful and loving environment for the whole family."

Pregnant Gisele Bündchen is “excited” about what’s to come. The Brazillian supermodel, who is expecting her third child and first with boyfriend Joaquim Valente, is looking ahead at “this new chapter openly,” a source told People on Monday, days after news of her pregnancy broke.