The Spanish stars, who first worked together in 1992's Jamon, Jamon, are preparing to be first-time parents after learning Cruz is pregnant, according to gossip Web site JustJared.com.
A source says, "Penelope is about four months pregnant. She’s really healthy now and will be a great mother."
Cruz and Bardem also starred in the 1997 Spanish film Live Flesh, before playing lovers in Woody Allen's 2008 drama Vicky Cristina Barcelona, which won the 35-year-old actress her first Academy Award, for Best Supporting Actress.
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