It looks like the Cruz family has lots to celebrate -- Penelope Cruz is reportedly expecting her second child!

Just last month, Penelope's younger sister Monica announced via her blog (warning: it's in Spanish) that she is expecting her first child via artificial insemination.

Now Page Six is reporting that Penelope is about to make another pregnancy announcement of her own.

The 38-year-old Oscar winner and her hubby (and fellow Oscar winner) Javier Bardem, 43, welcomed their first child, a son named Leo, in January of 2011. The couple has been married since July of 2010.

A baby isn't the only project the Spanish actors have been working on together -- their upcoming thriller "The Counselor," also starring Brad Pitt, Cameron Diaz and Michael Fassbender, hits theaters this November.

Congratulations to the family!

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