Penelope Cruz stepped out for the first time since giving birth yesterday -- and she looked incredible.
Rocking tight jeans and a striped top, the new mom -- who gave birth to a son reportedly named Leo Encinas a month ago in L.A. -- was spotted out in Santa Monica on Wednesday with baby daddy Javier Bardem.
Cruz also showed off her gorgeous 3-carat sapphire engagement ring from husband Javier, which reportedly cost $30,000.
Javier will be a presenter at the Oscars this weekend, where he's also nominated for his performance in "Biutiful" -- no word yet on if Penelope will accompany him to the ceremony though.
Cruz will next be seen in "Pirates of the Caribbean: On Stranger Tides," which opens May 20.
