The 32 year old and her banker husband James Rothschild are expecting their first child, according to

"Nicky is very excited to become a mom," a source says. "She is feeling great!... They've just begun telling close friends and family. Nicky and James are over the moon!"

Nicky, the sister of Paris Hilton, wed Rothschild in the Orangery at Kensington Palace, the royal residence of Prince William and his wife Catherine, Duchess of Cambridge, in July, 2015.

They became engaged in 2014 after three years of dating.

The couple has not commented on the reports.