Sharon Osbourne is finally going to be a grandma!

Sharon, Ozzy and son Jack Osbourne were all guests on Piers Morgan last night -- where Jack dropped some BIG news.

"I am about to be a father," he said, causing Ozzy to cheer and Sharon to applause. "I'm excited, little nervous, but excited."

"I think it's fabulous," Ozzy added, with Sharon chiming in "I'm happy because it's what Jack wants and so I'm happy. I've always wanted to be a grandma."

The mom-to-be is Jack's new fiancee, Lisa Stelly.

So ... will Jack continue the reality TV trend with his new family? Watch the video to find out.

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