JENNIFER LOPEZ FINALLY CONFIRMS PREGNANCY: 'MARC AND I ARE EXPECTING.' + J. LO'S RECORD LABEL SAYS HELL NO

IT'S ABOUT DAMN TIME! I was wondering when she was going to bite the bullet and confirm what everyone (including her ex-boyfriend, Diddy and her second husband Cris Judd) 2and their mama had known all along.

Jennifer Lopez has finally admitted that she is expecting a baby after much speculation surrounding her expanding waistline. Marc and I are expecting," she said, before hubby Marc Anthony kissed her bump and added "I didn’t know she was going to talk". The singer and actress confirmed the news on stage at a concert she was playing in Miami to her fans' delight. The Miami show also marked the last stop of Lopez's first concert tour. "This is a special time in our lives," said New York-born Lopez, who has sold 17 million records worldwide and released six albums. "And we waited until the last show to tell you."

According to one concert goer, "The whole arena went insane. It was awesome!" Lopez thanked the audience for the applause and said, "We are happy, too." She then turned sideways to reveal her profile and show off her very noticeable bump. She also playfully stuck out her tongue and joked about the news, holding her stomach and saying: "You don't mind if I catch my breath for a minute?"

The 39-year-old has been snapped during performances with a suspiciously round belly but had refused to comment on the rumors until now. Lopez claimed she waited until the end of the tour to speak out about the baby because she did not want people to worry about her health. She did not say when the baby is due. Lopez, who has been married three times, tied the knot with 39-year-old Anthony in 2004.

Check out the youtube clip of Jennifer's announcement below.

READ MORE ON THE RUMORS REGARDING SONY RECORDS DROPPING LOPEZ FOR LOW ALBUM SALES AFTER THE JUMP!

Let her record label tell it, Jennifer Lopez won't have to worry about not getting some much deserved mommy time when she gives births to twins early next year. Why? Two reasons: her diva-tude and her low record sales.

J. Lo is facing the axe from her record label after disappointing sales of her seventh studio album, Brave which was the singer's first studio album to not debut in the top 10 on Billboard's charts. The latest album effort from the Get Right hitmaker was released last month (Oct. '07) and sold a mere 53,000 copies in its first week, prompting reports the Latina would be dropped by Epic Records, a subsidiary of Sony BMG. The record label makes an average of $4 per CD, according to most estimates. Any way you do the math, the label is not coming close to breaking even on Lopez.

The label is also reportedly fed up with Lopez's poor record sales and the extravagant costs to maintain the artist. “She costs too much money and doesn’t sell enough,” says the source, who is familiar with the issue. “Her last album cover alone cost $60,000 in hair and makeup, lighting, photographers, re-touching, etc. The video budget was in the neighborhood of $300,000. The woman requires everything short of flying monkeys to get on a stage. Even if Sony keeps her, more than likely she’ll be doing little more than greatest hits albums. That you can do without incurring a huge cost. The label is tired of throwing money away.”